Good Life Advisors LLC Buys New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Good Life Advisors LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 478 shares of the pharmaceutical company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter worth $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals during the second quarter worth $31,000. Founders Capital Management boosted its position in 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 position in Vertex Pharmaceuticals during the first quarter worth $39,000. 90.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on VRTX. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price objective for the company. UBS Group lifted their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. HC Wainwright lifted their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada dropped their target price on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $492.92.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s 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 sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s 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 sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’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 completion of the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,285 shares of company stock worth $7,101,755 over the last 90 days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $483.00 on Monday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $475.21 and its two-hundred day moving average price is $460.23. The stock has a market cap of $124.66 billion, a PE ratio of -237.93 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its 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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm earned $3.53 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 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.