NBC Securities Inc. Purchases 41 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NBC Securities Inc. grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160 shares of the pharmaceutical company’s stock after purchasing an additional 41 shares during the quarter. NBC Securities Inc.’s holdings in Vertex Pharmaceuticals were worth $74,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $31,000. Founders Capital Management lifted its holdings in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Finally, ZRC Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $39,000. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on VRTX. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Scotiabank began coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price objective on the stock. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Bank of America dropped their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Piper Sandler increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $492.92.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the sale, the chief marketing officer now directly owns 25,539 shares of the company’s stock, valued at approximately $12,474,779.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction 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 owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,285 shares of company stock worth $7,101,755. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 3.2 %

Shares of NASDAQ VRTX opened at $483.00 on Monday. 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 company has a 50-day moving average price of $475.21 and a 200-day moving average price of $460.23. The stock has a market capitalization of $124.66 billion, a P/E ratio of -237.93 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64.

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 analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.53 EPS. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS 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.