Richardson Financial Services Inc. Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Richardson Financial Services Inc. boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 962 shares of the pharmaceutical company’s stock after purchasing an additional 25 shares during the period. Richardson Financial Services Inc.’s holdings in Vertex Pharmaceuticals were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the 1st quarter worth $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $28,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $31,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock valued at $16,843,806 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $474.16 on Thursday. The company’s 50-day simple moving average is $483.42 and its two-hundred day simple moving average is $451.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.85 and a 52-week high of $510.64. The stock has a market capitalization of $122.38 billion, a P/E ratio of 30.77 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $3.53 EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on VRTX shares. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective on the stock. Wells Fargo & Company upped their price target on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. Finally, Argus increased their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $485.91.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.