Forte Capital LLC ADV Has $5.67 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Forte Capital LLC ADV lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1,852.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,201 shares of the pharmaceutical company's stock after acquiring an additional 11,576 shares during the quarter. Forte Capital LLC ADV's holdings in Vertex Pharmaceuticals were worth $5,674,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norden Group LLC grew its stake in shares of Vertex Pharmaceuticals by 61.3% during the first quarter. Norden Group LLC now owns 992 shares of the pharmaceutical company's stock worth $415,000 after purchasing an additional 377 shares during the period. Quent Capital LLC grew its position in shares of Vertex Pharmaceuticals by 33.0% in the 1st quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company's stock valued at $167,000 after purchasing an additional 99 shares during the period. Larson Financial Group LLC raised its holdings in Vertex Pharmaceuticals by 714.3% during the 1st quarter. Larson Financial Group LLC now owns 228 shares of the pharmaceutical company's stock worth $95,000 after buying an additional 200 shares during the period. Advisory Alpha LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $356,000. Finally, Advisory Services Network LLC lifted its position in Vertex Pharmaceuticals by 31.7% in the 1st quarter. Advisory Services Network LLC now owns 9,751 shares of the pharmaceutical company's stock valued at $4,076,000 after acquiring an additional 2,348 shares in the last quarter. 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 stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company's stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, 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 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded up $8.81 during trading on Thursday, reaching $502.45. The company's stock had a trading volume of 992,276 shares, compared to its average volume of 1,171,194. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The firm has a market cap of $129.68 billion, a PE ratio of -252.37 and a beta of 0.39. The business's 50-day moving average price is $474.81 and its 200-day moving average price is $466.95. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business posted $3.67 EPS. The business's revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRTX. JPMorgan Chase & Co. reduced their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating for the company in a research report on Tuesday. Bank of America dropped their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Piper Sandler raised their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Raymond James reiterated a "market perform" rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Finally, Barclays cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $495.96.

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.