Truvestments Capital LLC Takes $35,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Truvestments Capital LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 76 shares of the pharmaceutical company’s stock, valued at approximately $35,000.

A number of other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Finally, Founders Capital Management lifted its holdings in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value 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. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,445 shares of company stock valued at $2,218,394 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.5 %

VRTX stock opened at $464.56 on Thursday. Vertex Pharmaceuticals Incorporated has a twelve month low of $346.29 and a twelve month high of $519.88. The stock has a market capitalization of $119.64 billion, a price-to-earnings ratio of -233.45 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $473.08 and its two-hundred day simple moving average is $474.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VRTX shares. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Scotiabank raised their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Canaccord Genuity Group lifted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Guggenheim upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $504.38.

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.