Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1,673.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,174 shares of the pharmaceutical company’s stock after buying an additional 7,713 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $3,802,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of 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. 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 valued at $756,381,000 after buying an additional 20,361 shares during the last quarter. Finally, Edgewood Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after buying 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.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $0.77 during trading hours on Tuesday, reaching $462.48. 101,364 shares of the stock were exchanged, compared to its average volume of 1,358,375. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88. The business’s fifty day moving average is $473.55 and its two-hundred day moving average is $474.04. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $3.67 EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VRTX. Oppenheimer dropped their price objective 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. Truist Financial reaffirmed a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Piper Sandler lifted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $504.38.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s 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 directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % 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. Also, 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 value of $1,888,216.00. Following the transaction, the chairman now directly 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. In the last ninety days, insiders sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is currently owned by corporate insiders.

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.