First Horizon Advisors Inc. Has $1.03 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First Horizon Advisors Inc. trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,190 shares of the pharmaceutical company’s stock after selling 24 shares during the quarter. First Horizon Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. International Assets Investment Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 21,750.1% in the 4th quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock worth $46,853,000 after purchasing an additional 114,623 shares in the last quarter. Western Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 4.8% during the fourth quarter. Western Wealth Management LLC now owns 947 shares of the pharmaceutical company’s stock valued at $385,000 after buying an additional 43 shares during the last quarter. Beaumont Financial Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $207,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $239,000. Finally, Nicholas Hoffman & Company LLC. lifted its position in Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock valued at $259,000 after acquiring an additional 24 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on VRTX shares. Wells Fargo & Company boosted their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Canaccord Genuity Group increased their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Royal Bank of Canada cut their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Truist Financial reiterated a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, HC Wainwright boosted their price target on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $485.91.

Vertex Pharmaceuticals Trading Down 0.1 %

NASDAQ:VRTX opened at $487.37 on Wednesday. The company has a market cap of $125.79 billion, a P/E ratio of 31.63 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.83 and a 1 year high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The stock’s fifty day moving average price is $480.75 and its two-hundred day moving average price is $443.13.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the company posted $3.53 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles F. Wagner, Jr. sold 3,250 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $454.79, for a total value of $1,478,067.50. Following the transaction, the chief financial officer now owns 50,387 shares in the company, valued at $22,915,503.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,630 shares of company stock valued at $23,447,151. 0.20% of the stock is 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.