Vivid Wealth Management LLC Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Vivid Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,352 shares of the pharmaceutical company's stock, valued at approximately $2,024,000.

Several other large investors have also made changes to their positions in the company. Brookstone Capital Management lifted its position in shares of Vertex Pharmaceuticals by 11.1% in the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company's stock worth $990,000 after buying an additional 237 shares during the last quarter. Founders Financial Securities LLC lifted its position in Vertex Pharmaceuticals by 18.4% during the 1st quarter. Founders Financial Securities LLC now owns 1,186 shares of the pharmaceutical company's stock worth $496,000 after acquiring an additional 184 shares during the last quarter. Trilogy Capital Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth about $429,000. LVW Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $256,000. Finally, Miracle Mile Advisors LLC grew its position in Vertex Pharmaceuticals by 49.4% during the first quarter. Miracle Mile Advisors LLC now owns 4,470 shares of the pharmaceutical company's stock worth $1,869,000 after buying an additional 1,479 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.3 %

Shares of VRTX stock traded down $1.33 during trading hours on Monday, hitting $476.37. 501,208 shares of the company's stock traded hands, compared to its average volume of 1,167,941. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The stock's 50 day simple moving average is $475.61 and its 200 day simple moving average is $462.73.

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

Wall Street Analysts Forecast Growth

VRTX has been the topic of several analyst reports. Barclays lowered Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and upped their price objective for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Bank of America cut their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Royal Bank of Canada reduced their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They issued a "sector perform" rating and a $480.00 price objective for the company. Finally, Piper Sandler increased their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $492.92.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 sale, the director now owns 4,435 shares of the company's stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm's stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is owned by corporate insiders.

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.