Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 85.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,087 shares of the pharmaceutical company’s stock after acquiring an additional 501 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors increased its stake in Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares during the period. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after purchasing an additional 394,338 shares in the last quarter. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after buying an additional 2,176,218 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Vertex Pharmaceuticals by 10.4% during the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock worth $1,080,296,000 after buying an additional 244,336 shares during the period. Finally, Legal & General Group Plc raised its holdings in Vertex Pharmaceuticals by 1.2% in the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock valued at $1,135,556,000 after acquiring an additional 29,104 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $516.74 on Monday. The business has a fifty day moving average of $475.40 and a two-hundred day moving average of $468.45. The company has a market cap of $133.08 billion, a P/E ratio of -259.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.26 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on VRTX shares. Guggenheim increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Scotiabank upped their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $495.96.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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.