Joseph Group Capital Management Has $2.26 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,817 shares of the pharmaceutical company’s stock after buying an additional 426 shares during the quarter. Vertex Pharmaceuticals makes up about 1.2% of Joseph Group Capital Management’s investment portfolio, making the stock its 25th biggest position. Joseph Group Capital Management’s holdings in Vertex Pharmaceuticals were worth $2,258,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth $25,000. Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the first quarter valued at about $27,000. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth about $28,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $477.90 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.85 and a 1-year high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The firm has a market cap of $123.32 billion, a PE ratio of 31.01 and a beta of 0.40. The business’s 50-day moving average price is $483.14 and its two-hundred day moving average price is $451.58.

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

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock worth $16,843,806 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VRTX shares. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. TD Cowen increased their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler lifted their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Hold” and a consensus price target of $486.36.

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.