Princeton Capital Management LLC Acquires 74 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Princeton Capital Management LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,110 shares of the pharmaceutical company’s stock after acquiring an additional 74 shares during the period. Vertex Pharmaceuticals comprises 2.2% of Princeton Capital Management LLC’s portfolio, making the stock its 11th biggest position. Princeton Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $7,027,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Finally, Founders Capital Management boosted its holdings in shares of Vertex Pharmaceuticals by 50.0% in 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 period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer dropped their target price on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. UBS Group upped their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $499.12.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction 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 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 disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ:VRTX 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 twelve month low of $346.29 and a twelve month high of $519.88. The company’s 50 day moving average is $476.31 and its 200 day moving average is $472.56.

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

About Vertex Pharmaceuticals

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.