Frank Rimerman Advisors LLC Has $2.49 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Frank Rimerman Advisors LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 44,141.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,309 shares of the pharmaceutical company’s stock after buying an additional 5,297 shares during the period. Frank Rimerman Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $2,488,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of Vertex Pharmaceuticals by 17.2% in the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after acquiring an additional 3,761,414 shares during the last quarter. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after purchasing an additional 394,338 shares during the last quarter. Capital Research Global Investors lifted its holdings in Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after buying an additional 2,176,218 shares in the last quarter. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after buying an additional 837,461 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Vertex Pharmaceuticals by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after buying an additional 244,336 shares during the period. Institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. 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 three months. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research reports. Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price target on the stock. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $431.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday. Finally, Oppenheimer lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $486.36.

Vertex Pharmaceuticals Stock Down 2.7 %

Vertex Pharmaceuticals stock opened at $464.92 on Friday. The company has a 50 day moving average of $482.66 and a 200-day moving average of $452.12. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.85 and a twelve month high of $510.64. The stock has a market capitalization of $119.97 billion, a PE ratio of 30.17 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.66 billion. During the same period in the previous year, the company posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

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.