Joseph Group Capital Management Acquires 855 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,672 shares of the pharmaceutical company’s stock after acquiring an additional 855 shares during the period. Vertex Pharmaceuticals accounts for approximately 1.0% of Joseph Group Capital Management’s holdings, making the stock its 29th largest position. Joseph Group Capital Management’s holdings in Vertex Pharmaceuticals were worth $2,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Advisory Services Inc. grew its stake in Vertex Pharmaceuticals by 1.1% in the third quarter. Meeder Advisory Services Inc. now owns 5,634 shares of the pharmaceutical company’s stock valued at $2,620,000 after purchasing an additional 62 shares in the last quarter. Quest Partners LLC grew its stake in shares of Vertex Pharmaceuticals by 3,856.6% in the third quarter. Quest Partners LLC now owns 3,284 shares of the pharmaceutical company’s stock valued at $1,527,000 after buying an additional 3,201 shares in the last quarter. Claro Advisors LLC increased its holdings in Vertex Pharmaceuticals by 24.1% during the third quarter. Claro Advisors LLC now owns 2,425 shares of the pharmaceutical company’s stock worth $1,128,000 after buying an additional 471 shares during the last quarter. Concord Asset Management LLC VA raised its position in Vertex Pharmaceuticals by 21.6% during the third quarter. Concord Asset Management LLC VA now owns 2,827 shares of the pharmaceutical company’s stock worth $1,315,000 after acquiring an additional 502 shares in the last quarter. Finally, Adero Partners LLC lifted its stake in Vertex Pharmaceuticals by 2.2% in the third quarter. Adero Partners LLC now owns 1,342 shares of the pharmaceutical company’s stock valued at $624,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.3 %

Shares of Vertex Pharmaceuticals stock opened at $467.01 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88. The firm’s 50-day moving average price is $476.31 and its two-hundred day moving average price is $472.56.

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

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value 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 $4,987,006. This represents a 27.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Guggenheim upped their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Citigroup started coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $499.12.

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.