Redhawk Wealth Advisors Inc. Trims Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Redhawk Wealth Advisors Inc. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 78.9% in the third quarter, HoldingsChannel reports. The firm owned 1,110 shares of the pharmaceutical company’s stock after selling 4,158 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Activest Wealth Management purchased a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $25,000. Access Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $27,000. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the second quarter valued at $29,000. Finally, Total Investment Management Inc. purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $17,202,600. The trade was a 27.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 151,073 shares of company stock worth $67,326,816. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $456.20 on Friday. The stock has a market capitalization of $115.75 billion, a PE ratio of 32.17 and a beta of 0.32. The business has a 50 day simple moving average of $430.64 and a 200-day simple moving average of $426.01. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68.

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

Analyst Ratings Changes

VRTX has been the subject of a number of recent research reports. Scotiabank began coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price objective for the company. Wells Fargo & Company lifted their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada decreased their price target on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Stifel Nicolaus dropped their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Finally, Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $498.42.

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.