Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,918 shares of the pharmaceutical company’s stock after selling 101 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Vertex Pharmaceuticals were worth $5,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VRTX. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Vertex Pharmaceuticals by 5.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after buying an additional 159,693 shares during the period. Legal & General Group Plc increased 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 buying an additional 29,104 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Vertex Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,626,347 shares of the pharmaceutical company’s stock worth $756,381,000 after acquiring an additional 20,361 shares during the period. Finally, Edgewood Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s 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 sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 27.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction 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 completion of the sale, the director now owns 4,435 shares in the company, valued at approximately $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. Insiders sold a total of 4,445 shares of company stock worth $2,218,394 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VRTX shares. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Bank of America reduced their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Piper Sandler upped their price objective 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. Finally, Truist Financial reissued a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $504.38.

Vertex Pharmaceuticals Stock Up 0.1 %

Shares of VRTX opened at $450.97 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company’s 50-day moving average price is $474.11 and its 200 day moving average price is $473.74. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 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 firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the business posted $3.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

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.