6,307 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,307 shares of the pharmaceutical company's stock, valued at approximately $2,933,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Leavell Investment Management Inc. increased its holdings in Vertex Pharmaceuticals by 16.7% in the 3rd quarter. Leavell Investment Management Inc. now owns 5,509 shares of the pharmaceutical company's stock valued at $2,562,000 after purchasing an additional 790 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $39,000. AIA Group Ltd grew its stake in shares of Vertex Pharmaceuticals by 5.2% in the third quarter. AIA Group Ltd now owns 30,786 shares of the pharmaceutical company's stock valued at $14,318,000 after buying an additional 1,522 shares in the last quarter. Portside Wealth Group LLC lifted its position in Vertex Pharmaceuticals by 10.7% during the 3rd quarter. Portside Wealth Group LLC now owns 2,005 shares of the pharmaceutical company's stock worth $932,000 after acquiring an additional 193 shares in the last quarter. Finally, Keynote Financial Services LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $498,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business's stock in a transaction 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 sale, the director now owns 4,435 shares of the company's stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company's stock in a transaction 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 transaction, the director now owns 4,435 shares of the company's stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VRTX. Cantor Fitzgerald reissued an "overweight" rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Raymond James restated a "market perform" rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $495.96.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded up $14.29 during trading hours on Friday, reaching $516.74. 1,259,505 shares of the company's stock traded hands, compared to its average volume of 1,100,543. The firm has a market capitalization of $133.08 billion, a price-to-earnings ratio of -259.67 and a beta of 0.39. The business's fifty day simple moving average is $475.40 and its two-hundred day simple moving average is $468.45. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26.

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