Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 89.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 751 shares of the pharmaceutical company’s stock after selling 6,488 shares during the quarter. Qsemble Capital Management LP’s holdings in Vertex Pharmaceuticals were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals by 7.7% during the second quarter. Trifecta Capital Advisors LLC now owns 13,316 shares of the pharmaceutical company’s stock valued at $6,241,000 after buying an additional 955 shares during the last quarter. LPL Financial LLC boosted its position in Vertex Pharmaceuticals by 14.4% during the 2nd quarter. LPL Financial LLC now owns 209,839 shares of the pharmaceutical company’s stock worth $98,356,000 after acquiring an additional 26,468 shares during the period. Angeles Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 5.2% in the second quarter. Angeles Wealth Management LLC now owns 1,122 shares of the pharmaceutical company’s stock worth $526,000 after purchasing an additional 55 shares in the last quarter. MGO One Seven LLC raised its stake in shares of Vertex Pharmaceuticals by 98.5% during the second quarter. MGO One Seven LLC now owns 3,221 shares of the pharmaceutical company’s stock valued at $1,510,000 after purchasing an additional 1,598 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Vertex Pharmaceuticals by 81.0% in the second quarter. Headlands Technologies LLC now owns 4,371 shares of the pharmaceutical company’s stock worth $2,049,000 after purchasing an additional 1,956 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VRTX shares. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Wells Fargo & Company lifted their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. HC Wainwright boosted their price objective on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Three research 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, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $485.91.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock worth $16,843,806 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.4 %

VRTX stock opened at $485.37 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $341.85 and a one year high of $510.64. The stock has a market cap of $125.27 billion, a price-to-earnings ratio of 31.50 and a beta of 0.40. The company has a fifty day moving average price of $483.72 and a two-hundred day moving average price of $450.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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 firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm earned $3.53 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

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.