Keynote Financial Services LLC Buys New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Keynote Financial Services LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,070 shares of the pharmaceutical company's stock, valued at approximately $498,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial reissued a "buy" rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Barclays downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Bank of America cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $495.96.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the 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 transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred 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 completion of the transaction, 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. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Up 2.8 %

VRTX traded up $14.29 during midday trading on Friday, reaching $516.74. The company's stock had a trading volume of 1,259,332 shares, compared to its average volume of 1,171,674. 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 company has a current ratio of 2.47, a quick ratio of 2.26 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The stock's 50-day moving average is $475.40 and its 200-day moving average is $468.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share 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 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS 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.