Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,092 shares of the pharmaceutical company’s stock after selling 217 shares during the quarter. Gabelli Funds LLC’s holdings in Vertex Pharmaceuticals were worth $10,355,000 as of its most recent SEC filing.

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

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $460.00 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The firm has a market capitalization of $118.70 billion, a PE ratio of 29.85 and a beta of 0.40. The business has a 50 day simple moving average of $482.05 and a 200-day simple moving average of $452.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) 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 company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company earned $3.53 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the transaction, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,047 shares of company stock worth $16,843,806. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTX. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Oppenheimer raised their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target for the company. HC Wainwright increased their price target on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets boosted their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently 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.