Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 88.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,206 shares of the pharmaceutical company’s stock after selling 9,453 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Vertex Pharmaceuticals were worth $565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brookstone Capital Management lifted its holdings in 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 purchasing an additional 237 shares during the period. Brevan Howard Capital Management LP lifted its stake in shares of Vertex Pharmaceuticals by 216.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after acquiring an additional 3,303 shares during the period. Greenwood Capital Associates LLC boosted its holdings in shares of Vertex Pharmaceuticals by 11.3% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock valued at $10,313,000 after acquiring an additional 2,576 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $2,763,000. Finally, Blue Trust Inc. raised its holdings in Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $462.88 on Friday. The firm has a 50 day simple moving average of $479.92 and a 200 day simple moving average of $453.85. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.85 and a 52 week high of $510.64. The stock has a market cap of $119.47 billion, a P/E ratio of 30.04 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the business earned $3.53 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRTX. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Argus boosted their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target for the company. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company increased their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $486.36.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Bruce I. Sachs sold 5,295 shares of the company’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 $20,320,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. The disclosure for this sale can be found here. Insiders have sold 31,767 shares of company stock worth $15,768,284 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

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.