Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,249 shares of the pharmaceutical company’s stock after selling 78 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Vertex Pharmaceuticals were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Mesirow Financial Investment Management Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $459,000. Dimensional Fund Advisors LP increased its stake in Vertex Pharmaceuticals by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 662,957 shares of the pharmaceutical company’s stock valued at $310,768,000 after purchasing an additional 75,045 shares in the last quarter. Angeles Investment Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $219,000. Fairfield Financial Advisors LTD purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth $176,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Vertex Pharmaceuticals by 4.3% during the second quarter. Brown Brothers Harriman & Co. now owns 2,504 shares of the pharmaceutical company’s stock worth $1,174,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on VRTX shares. Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $485.37 on Monday. The company’s 50 day simple moving average is $483.72 and its 200-day simple moving average is $450.41. The company has a market capitalization of $125.25 billion, a price-to-earnings ratio of 31.50 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. 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 released its quarterly 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 during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders have sold a total of 34,047 shares of company stock valued at $16,843,806 in the last ninety days. Company insiders own 0.20% of the company’s stock.

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.