Wolff Wiese Magana LLC Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wolff Wiese Magana LLC reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 84.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 831 shares of the pharmaceutical company’s stock after selling 4,634 shares during the period. Wolff Wiese Magana LLC’s holdings in Vertex Pharmaceuticals were worth $234,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Sittner & Nelson LLC increased its stake in Vertex Pharmaceuticals by 66.7% during the 1st quarter. Sittner & Nelson LLC now owns 125 shares of the pharmaceutical company’s stock worth $33,000 after buying an additional 50 shares during the period. Steward Financial Group LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $34,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Vertex Pharmaceuticals by 104.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 149 shares of the pharmaceutical company’s stock valued at $39,000 after buying an additional 76 shares in the last quarter. Cordasco Financial Network acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $40,000. Finally, Vestor Capital LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $41,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 11,689 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $305.06, for a total value of $3,565,846.34. Following the transaction, the chief executive officer now owns 99,598 shares in the company, valued at $30,383,365.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Sangeeta N. Bhatia sold 621 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $278.77, for a total transaction of $173,116.17. Following the sale, the director now owns 5,282 shares in the company, valued at $1,472,463.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reshma Kewalramani sold 11,689 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $305.06, for a total transaction of $3,565,846.34. Following the sale, the chief executive officer now owns 99,598 shares in the company, valued at approximately $30,383,365.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,831 shares of company stock worth $56,532,979. Company insiders own 0.40% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.7 %

Shares of Vertex Pharmaceuticals stock traded down $4.96 during mid-day trading on Friday, hitting $281.38. 40,992 shares of the stock were exchanged, compared to its average volume of 1,196,599. Vertex Pharmaceuticals Incorporated has a twelve month low of $176.36 and a twelve month high of $305.95. The stock has a market capitalization of $72.16 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 2.00 and a beta of 0.45. The company has a 50-day simple moving average of $287.21 and a 200 day simple moving average of $273.42. The company has a current ratio of 4.50, a quick ratio of 4.36 and a debt-to-equity ratio of 0.04.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its earnings results on Thursday, August 4th. The pharmaceutical company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.48. Vertex Pharmaceuticals had a net margin of 38.26% and a return on equity of 31.22%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company earned $2.80 earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 12.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $250.00 to $253.00 and gave the company an “equal weight” rating in a research report on Monday, August 8th. Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $256.00 to $288.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Argus upped their price target on shares of Vertex Pharmaceuticals from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $291.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, HC Wainwright upped their price objective on shares of Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.65.

Vertex Pharmaceuticals Profile

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

See Also

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating).

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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