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

WealthPlan Investment Management LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,366 shares of the pharmaceutical company's stock, valued at approximately $635,000.

A number of other institutional investors have also added to or reduced their stakes in VRTX. Capital World Investors increased its position in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company's stock valued at $10,687,339,000 after acquiring an additional 3,761,414 shares during the period. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company's stock valued at $9,479,011,000 after acquiring an additional 394,338 shares during the period. Capital Research Global Investors increased its position in Vertex Pharmaceuticals by 61.0% in the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company's stock valued at $2,401,000,000 after acquiring an additional 2,176,218 shares during the period. Janus Henderson Group PLC increased its position in Vertex Pharmaceuticals by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company's stock valued at $1,080,296,000 after acquiring an additional 244,336 shares during the period. Finally, Legal & General Group Plc increased its position in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company's stock valued at $1,135,556,000 after acquiring an additional 29,104 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.9 %

VRTX stock traded up $4.61 during mid-day trading on Wednesday, hitting $494.61. The company had a trading volume of 962,947 shares, compared to its average volume of 1,172,348. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $519.88. The stock's fifty day moving average price is $475.81 and its two-hundred day moving average price is $470.31.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business'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 value 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 document filed with the SEC, which is available at the SEC website. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business's 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 owns 9,994 shares of the company's stock, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business'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 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 disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on VRTX shares. JPMorgan Chase & Co. decreased their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Bank of America lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $495.96.

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.