Pathstone Holdings LLC Has $18.91 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Pathstone Holdings LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,653 shares of the pharmaceutical company’s stock after purchasing an additional 2,112 shares during the period. Pathstone Holdings LLC’s holdings in Vertex Pharmaceuticals were worth $18,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in VRTX. Capital World Investors boosted 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 acquiring an additional 3,761,414 shares during the period. Capital Research Global Investors boosted its holdings in Vertex Pharmaceuticals by 61.0% in the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares during the period. Swedbank AB acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $277,317,000. AMF Tjanstepension AB bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $257,655,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 74,015.5% during the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the period. Institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, 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 directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,445 shares of company stock worth $2,218,394 over the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $448.01 on Wednesday. The business has a 50-day moving average of $475.85 and a 200-day moving average of $472.89. Vertex Pharmaceuticals Incorporated has a 1 year low of $346.29 and a 1 year high of $519.88. The company has a market capitalization of $115.38 billion, a price-to-earnings ratio of -225.13 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group upped their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $499.12.

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.