DRW Securities LLC Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

DRW Securities LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 62.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 742 shares of the pharmaceutical company’s stock after selling 1,225 shares during the quarter. DRW Securities LLC’s holdings in Vertex Pharmaceuticals were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in VRTX. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at approximately $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $28,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Finally, Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $31,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on 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 directly owns 4,435 shares in the company, valued at $2,217,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $487.34, for a total transaction of $1,111,135.20. Following the sale, the chief marketing officer now owns 27,819 shares of the company’s stock, valued at $13,557,311.46. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock valued at $16,843,806 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $460.00 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The business’s 50 day moving average price is $482.05 and its 200 day moving average price is $452.75. The company has a market cap of $118.70 billion, a price-to-earnings ratio of 29.85 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly 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 company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm earned $3.53 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent research reports. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Truist Financial reissued a “buy” rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.