CreativeOne Wealth LLC Buys 3,242 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CreativeOne Wealth LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,475 shares of the pharmaceutical company’s stock after purchasing an additional 3,242 shares during the quarter. CreativeOne Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $3,476,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VRTX. Groesbeck Investment Management Corp NJ raised its stake in Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after buying an additional 21 shares during the last quarter. Mutual Advisors LLC raised its stake in Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after buying an additional 21 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after buying an additional 22 shares during the last quarter. Finally, Daymark Wealth Partners LLC raised its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after buying an additional 22 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly owns 4,435 shares in the company, valued at $2,217,500. This represents 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 over the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group increased their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Piper Sandler raised their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer reduced their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $504.38.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of VRTX opened at $464.56 on Thursday. 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 stock’s 50 day moving average is $473.08 and its two-hundred day moving average is $474.28. The firm has a market cap of $119.64 billion, a P/E ratio of -233.45 and a beta of 0.39.

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

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.