HWG Holdings LP Increases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

HWG Holdings LP lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25,211.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,278 shares of the pharmaceutical company's stock after purchasing an additional 2,269 shares during the quarter. HWG Holdings LP's holdings in Vertex Pharmaceuticals were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Groesbeck Investment Management Corp NJ boosted its position in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company's stock worth $841,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its position in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company's stock worth $1,681,000 after buying an additional 22 shares during the period. Drive Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company's stock worth $516,000 after purchasing an additional 22 shares during the period. Daymark Wealth Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company's stock worth $374,000 after purchasing an additional 22 shares during the period. Finally, Grove Bank & Trust lifted its position in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company's stock worth $191,000 after purchasing an additional 22 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now directly owns 40,000 shares of the company's stock, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now directly owns 40,000 shares of the company's stock, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. TD Cowen boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Barclays downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. UBS Group boosted their price target on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, Truist Financial restated a "buy" rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $492.92.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $5.79 during midday trading on Friday, reaching $477.70. The company had a trading volume of 1,015,635 shares, compared to its average volume of 1,171,162. The company's 50 day moving average price is $475.60 and its 200 day moving average price is $461.36. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market cap of $123.29 billion, a P/E ratio of -235.32 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts' consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. Vertex Pharmaceuticals's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $3.53 earnings per share. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Vertex Pharmaceuticals Company 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.