Centaurus Financial Inc. Has $864,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Centaurus Financial Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,858 shares of the pharmaceutical company’s stock after purchasing an additional 289 shares during the quarter. Centaurus Financial Inc.’s holdings in Vertex Pharmaceuticals were worth $864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $31,000. Finally, Founders Capital Management boosted its holdings in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on VRTX. Piper Sandler boosted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Guggenheim increased their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, UBS Group raised their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $504.38.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, 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 in the last 90 days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $461.71 on Tuesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $346.29 and a fifty-two week high of $519.88. The firm has a 50-day moving average of $473.55 and a 200 day moving average of $474.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market cap of $118.90 billion, a P/E ratio of -232.02 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 the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business posted $3.67 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current 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.