Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,925 shares of the pharmaceutical company’s stock after selling 161 shares during the period. GLOBALT Investments LLC GA’s holdings in Vertex Pharmaceuticals were worth $3,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VRTX. Creative Planning boosted its stake in shares of Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after buying an additional 3,998 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $74,213,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $21,008,000. Finally, Keynote Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $498,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $465.70 on Monday. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $519.88. The stock has a 50-day simple moving average of $476.39 and a 200 day simple moving average of $472.09. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the firm earned $3.67 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction 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 sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on VRTX. Piper Sandler upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Truist Financial reiterated a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. HC Wainwright restated a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $499.12.

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.