Beck Capital Management LLC Has $922,000 Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Beck Capital Management LLC grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,966 shares of the pharmaceutical company’s stock after purchasing an additional 79 shares during the quarter. Beck Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aveo Capital Partners LLC lifted its holdings in shares of Vertex Pharmaceuticals by 77.3% in the fourth quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock valued at $438,000 after purchasing an additional 469 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in Vertex Pharmaceuticals by 26.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,978 shares of the pharmaceutical company’s stock worth $805,000 after purchasing an additional 414 shares during the last quarter. Trexquant Investment LP grew its position in Vertex Pharmaceuticals by 161.2% in the 4th quarter. Trexquant Investment LP now owns 3,968 shares of the pharmaceutical company’s stock worth $1,615,000 after purchasing an additional 2,449 shares in the last quarter. Quest Partners LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $33,000. Finally, US Bancorp DE lifted its position in shares of Vertex Pharmaceuticals by 46.3% during the 4th quarter. US Bancorp DE now owns 19,162 shares of the pharmaceutical company’s stock worth $7,797,000 after buying an additional 6,065 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective for the company. Guggenheim lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Finally, BMO Capital Markets upped their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $486.36.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Vertex Pharmaceuticals 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 transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s 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 completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock worth $16,843,806. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.7 %

VRTX opened at $464.92 on Monday. The firm has a market capitalization of $119.97 billion, a P/E ratio of 30.17 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a one year low of $341.85 and a one year high of $510.64. The company has a fifty day moving average price of $482.66 and a 200-day moving average price of $452.40. 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 posted 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 business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.