Cetera Investment Advisers Sells 3,396 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cetera Investment Advisers lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 24.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,718 shares of the pharmaceutical company’s stock after selling 3,396 shares during the period. Cetera Investment Advisers’ holdings in Vertex Pharmaceuticals were worth $3,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TFC Financial Management lifted its holdings in shares of Vertex Pharmaceuticals by 58.0% during the 2nd quarter. TFC Financial Management now owns 109 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 40 shares during the period. Trust Co. of Vermont bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $33,000. Sittner & Nelson LLC lifted its holdings in shares of Vertex Pharmaceuticals by 66.7% during the 1st quarter. Sittner & Nelson LLC now owns 125 shares of the pharmaceutical company’s stock worth $33,000 after acquiring an additional 50 shares during the period. James Investment Research Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $37,000. Finally, Vestor Capital LLC bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $41,000. Institutional investors own 91.33% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.7 %

Shares of NASDAQ VRTX opened at $316.16 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.70. Vertex Pharmaceuticals Incorporated has a 52-week low of $182.66 and a 52-week high of $323.61. The firm has a 50 day moving average price of $299.30 and a two-hundred day moving average price of $285.26. The stock has a market cap of $81.16 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 1.81 and a beta of 0.44.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Bastiano Sanna sold 1,791 shares of the company’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $300.31, for a total value of $537,855.21. Following the completion of the transaction, the executive vice president now directly owns 39,192 shares in the company, valued at approximately $11,769,749.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Sangeeta N. Bhatia sold 621 shares of the company’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $310.00, for a total value of $192,510.00. Following the sale, the director now directly owns 4,040 shares of the company’s stock, valued at approximately $1,252,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bastiano Sanna sold 1,791 shares of the company’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $300.31, for a total transaction of $537,855.21. Following the completion of the sale, the executive vice president now directly owns 39,192 shares in the company, valued at $11,769,749.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,715 shares of company stock worth $1,125,226. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $319.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, October 24th. Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. HC Wainwright upped their price objective on shares of Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $253.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Finally, Cowen upped their price objective on shares of Vertex Pharmaceuticals from $315.00 to $330.00 in a research report on Friday, October 28th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $305.33.

About Vertex Pharmaceuticals

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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