abrdn plc Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

abrdn plc decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 371,089 shares of the pharmaceutical company’s stock after selling 313 shares during the quarter. abrdn plc owned 0.14% of Vertex Pharmaceuticals worth $172,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in VRTX. Smith Group Asset Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.7% in the 3rd quarter. Smith Group Asset Management LLC now owns 43,659 shares of the pharmaceutical company’s stock worth $20,305,000 after purchasing an additional 749 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of Vertex Pharmaceuticals by 15.7% during the third quarter. Orrstown Financial Services Inc. now owns 699 shares of the pharmaceutical company’s stock valued at $325,000 after buying an additional 95 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Vertex Pharmaceuticals by 3.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 75,350 shares of the pharmaceutical company’s stock worth $35,044,000 after buying an additional 2,221 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Vertex Pharmaceuticals by 9.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,384 shares of the pharmaceutical company’s stock worth $1,574,000 after buying an additional 302 shares during the last quarter. Finally, Concord Wealth Partners lifted its stake in Vertex Pharmaceuticals by 15.2% during the 3rd quarter. Concord Wealth Partners now owns 2,646 shares of the pharmaceutical company’s stock valued at $1,231,000 after acquiring an additional 349 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. TD Cowen raised their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group upped their price objective on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Trading Down 0.3 %

Shares of VRTX opened at $476.37 on Tuesday. The firm has a market cap of $122.95 billion, a P/E ratio of -234.67 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The company has a 50 day simple moving average of $475.37 and a two-hundred day simple moving average of $463.27.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.53 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals 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 $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals 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 completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is currently owned by insiders.

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.