United Asset Strategies Inc. Has $1.15 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

United Asset Strategies Inc. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944 shares of the pharmaceutical company’s stock after selling 1,243 shares during the period. United Asset Strategies Inc.’s holdings in Vertex Pharmaceuticals were worth $1,153,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Lee Johnson Capital Management LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $721,000. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Vertex Pharmaceuticals by 3.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after purchasing an additional 1,393 shares during the period. Bailard Inc. raised its holdings in shares of Vertex Pharmaceuticals by 0.5% in the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after purchasing an additional 200 shares during the period. SteelPeak Wealth LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $10,059,000. Finally, Moody Lynn & Lieberson LLC grew its holdings in Vertex Pharmaceuticals by 1.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $17,202,600. The trade was a 27.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the transaction, the chairman directly owned 24,026 shares in the company, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 160,605 shares of company stock valued at $71,721,068. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 3.0%

VRTX stock opened at $469.68 on Friday. The stock has a 50-day simple moving average of $442.73 and a two-hundred day simple moving average of $427.19. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The firm has a market capitalization of $119.17 billion, a PE ratio of 33.12 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. Vertex Pharmaceuticals’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $4.38 earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research reports. Evercore ISI lowered their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. Stifel Nicolaus decreased their price objective on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Citigroup increased their target price on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $503.80.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.