Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Increased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.0% during the second quarter, Holdings Channel reports. The firm owned 858 shares of the pharmaceutical company’s stock after purchasing an additional 71 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Vertex Pharmaceuticals were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VRTX. International Assets Investment Management LLC raised its position in shares of Vertex Pharmaceuticals by 21,750.1% during the fourth quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock worth $46,853,000 after purchasing an additional 114,623 shares during the period. Western Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 4.8% during the fourth quarter. Western Wealth Management LLC now owns 947 shares of the pharmaceutical company’s stock worth $385,000 after purchasing an additional 43 shares during the period. Beaumont Financial Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $207,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $239,000. Finally, Nicholas Hoffman & Company LLC. raised its position in shares of Vertex Pharmaceuticals by 3.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. Insiders sold 48,630 shares of company stock worth $23,447,151 in the last 90 days. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VRTX shares. Piper Sandler upped their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer upped their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. TD Cowen upped their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. Finally, Royal Bank of Canada dropped their price target on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded down $1.10 during trading hours on Wednesday, hitting $486.27. The stock had a trading volume of 524,866 shares, compared to its average volume of 1,210,953. The company has a 50-day moving average of $480.75 and a two-hundred day moving average of $443.13. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The company has a market cap of $125.51 billion, a PE ratio of 31.63 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $340.83 and a fifty-two week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company earned $3.53 EPS. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 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.