Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Increased by Davidson Capital Management Inc.

Davidson Capital Management Inc. boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,205 shares of the pharmaceutical company’s stock after buying an additional 1,383 shares during the quarter. Vertex Pharmaceuticals makes up about 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 13th biggest position. Davidson Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $3,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of VRTX. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $25,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals during the second quarter worth about $29,000. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $27,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $31,000. Finally, ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $477.90 on Friday. The stock has a 50-day simple moving average of $483.14 and a two-hundred day simple moving average of $451.58. The firm has a market capitalization of $123.32 billion, a PE ratio of 31.01 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.85 and a 52-week high of $510.64. 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 released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted $3.53 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,047 shares of company stock worth $16,843,806. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VRTX. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Canaccord Genuity Group lifted their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price target on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Truist Financial restated a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Company 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.