Whalen Wealth Management Inc. Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Whalen Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,424 shares of the pharmaceutical company's stock, valued at approximately $662,000.

Several other institutional investors have also bought and sold shares of the stock. Capital World Investors lifted its holdings in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company's stock valued at $10,687,339,000 after acquiring an additional 3,761,414 shares during the last quarter. Capital Research Global Investors increased its holdings in Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company's stock worth $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Swedbank AB bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $277,317,000. AMF Tjanstepension AB bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $257,655,000. Finally, International Assets Investment Management LLC boosted its position in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company's stock valued at $150,977,000 after acquiring an additional 324,188 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VRTX shares. Oppenheimer dropped their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Truist Financial reissued a "buy" rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $499.12.

Vertex Pharmaceuticals Stock Down 4.1 %

Shares of NASDAQ VRTX traded down $19.00 on Tuesday, reaching $448.01. 2,191,299 shares of the company's stock traded hands, compared to its average volume of 1,183,779. The business's 50 day simple moving average is $475.85 and its two-hundred day simple moving average is $472.89. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a market cap of $115.38 billion, a price-to-earnings ratio of -225.13 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter last year, the company posted $3.67 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares of the company's stock, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company's stock, valued at approximately $2,217,500. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,445 shares of company stock worth $2,218,394. Insiders own 0.20% of the company's stock.

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.