Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Holdings Lessened by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 78.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,666 shares of the pharmaceutical company’s stock after selling 9,988 shares during the period. Edgestream Partners L.P.’s holdings in Vertex Pharmaceuticals were worth $1,250,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $25,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $29,000. Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $27,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $31,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals 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 transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals 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 directly owns 40,000 shares in the company, valued at approximately $20,320,000. The disclosure for this sale can be found here. Over the last ninety 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

Several analysts have issued reports on the stock. Redburn Atlantic began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. HC Wainwright upped their price target on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets raised their price target on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. 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’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Hold” and an average price target of $486.36.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $464.92 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The stock’s 50-day moving average is $482.66 and its two-hundred day moving average is $451.87. 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 cap of $119.97 billion, a P/E ratio of 30.17 and a beta of 0.40.

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