Hemenway Trust Co LLC Purchases 11,682 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hemenway Trust Co LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,119 shares of the pharmaceutical company’s stock after acquiring an additional 11,682 shares during the period. Vertex Pharmaceuticals accounts for 1.5% of Hemenway Trust Co LLC’s holdings, making the stock its 28th biggest position. Hemenway Trust Co LLC’s holdings in Vertex Pharmaceuticals were worth $18,659,000 as of its most recent SEC filing.

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

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded up $1.14 during midday trading on Tuesday, hitting $502.86. 43,408 shares of the company’s stock were exchanged, compared to its average volume of 1,167,223. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $519.88. The company has a market cap of $129.50 billion, a price-to-earnings ratio of -252.12 and a beta of 0.39. The company has a current ratio of 2.47, a quick ratio of 2.26 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $475.52 and its two-hundred day moving average price is $469.66.

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

Insider Activity at Vertex Pharmaceuticals

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

Analyst Ratings Changes

A number of research firms recently commented on VRTX. Scotiabank boosted their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Truist Financial restated a “buy” rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Piper Sandler upped their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Finally, UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals 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.