Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3,507.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,163 shares of the pharmaceutical company's stock after acquiring an additional 19,604 shares during the period. SteelPeak Wealth LLC's holdings in Vertex Pharmaceuticals were worth $9,377,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VRTX. Diversify Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 27.2% during the 3rd quarter. Diversify Wealth Management LLC now owns 3,746 shares of the pharmaceutical company's stock valued at $1,761,000 after purchasing an additional 800 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of Vertex Pharmaceuticals by 6.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,868 shares of the pharmaceutical company's stock valued at $2,729,000 after purchasing an additional 335 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 660 shares of the pharmaceutical company's stock valued at $311,000 after purchasing an additional 101 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $16,324,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 1.0 %

Shares of VRTX traded up $4.72 during mid-day trading on Wednesday, hitting $475.08. The company's stock had a trading volume of 719,003 shares, compared to its average volume of 1,165,004. The company's 50-day moving average is $475.03 and its 200-day moving average is $463.79. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The firm has a market capitalization of $122.62 billion, a price-to-earnings ratio of -233.63 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the previous year, the company posted $3.53 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the 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 $2,217,500. This represents 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. In other Vertex Pharmaceuticals 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the company'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 owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,005 shares of company stock valued at $5,988,066 over the last 90 days. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. HC Wainwright reaffirmed a "buy" rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Royal Bank of Canada cut their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a "sector perform" rating for the company in a research note on Friday, October 4th. Finally, Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $492.50.

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.