Arjuna Capital Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Arjuna Capital grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,375 shares of the pharmaceutical company’s stock after purchasing an additional 29 shares during the quarter. Arjuna Capital’s holdings in Vertex Pharmaceuticals were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management raised its stake in Vertex Pharmaceuticals by 206.3% during the first quarter. LSV Asset Management now owns 4,751 shares of the pharmaceutical company’s stock valued at $1,240,000 after purchasing an additional 3,200 shares in the last quarter. Synovus Financial Corp raised its stake in Vertex Pharmaceuticals by 9.6% during the first quarter. Synovus Financial Corp now owns 6,737 shares of the pharmaceutical company’s stock valued at $1,759,000 after purchasing an additional 590 shares in the last quarter. Cibc World Market Inc. raised its stake in Vertex Pharmaceuticals by 69.4% during the first quarter. Cibc World Market Inc. now owns 6,622 shares of the pharmaceutical company’s stock valued at $1,728,000 after purchasing an additional 2,713 shares in the last quarter. Sei Investments Co. raised its stake in Vertex Pharmaceuticals by 28.4% during the first quarter. Sei Investments Co. now owns 44,090 shares of the pharmaceutical company’s stock valued at $11,756,000 after purchasing an additional 9,761 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Vertex Pharmaceuticals by 4.0% in the first quarter. Cetera Investment Advisers now owns 14,114 shares of the pharmaceutical company’s stock valued at $3,683,000 after acquiring an additional 544 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VRTX shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $440.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Evercore ISI lowered shares of Vertex Pharmaceuticals from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $436.00 to $438.00 in a research report on Tuesday, February 6th. Finally, Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $359.00 to $364.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $412.62.

View Our Latest Analysis on VRTX

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 6,648 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the transaction, the chairman now owns 2,423 shares of the company’s stock, valued at approximately $1,015,406.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded down $5.57 during trading hours on Monday, reaching $417.34. 124,525 shares of the company’s stock were exchanged, compared to its average volume of 1,588,039. Vertex Pharmaceuticals Incorporated has a 1 year low of $283.60 and a 1 year high of $448.40. The company has a market capitalization of $107.54 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.30 and a beta of 0.36. The business has a fifty day moving average of $411.25 and a two-hundred day moving average of $374.99. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last released its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $3.33 earnings per share. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 14.98 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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