National Bank of Canada FI lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 24.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,437 shares of the pharmaceutical company’s stock after selling 33,696 shares during the period. National Bank of Canada FI’s holdings in Vertex Pharmaceuticals were worth $48,272,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Groesbeck Investment Management Corp NJ grew its stake in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after buying an additional 21 shares during the last quarter. Institute for Wealth Management LLC. grew its position in shares of Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares during the last quarter. Drive Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares during the period. RFP Financial Group LLC lifted its position in shares of Vertex Pharmaceuticals by 17.0% during the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after purchasing an additional 23 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 24 shares during the period. Institutional investors own 90.96% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Royal Bank of Canada decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, HC Wainwright lifted their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $485.91.
Insider Transactions at Vertex Pharmaceuticals
In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the sale, the chief marketing officer now owns 32,379 shares in the company, valued at approximately $15,477,162. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the transaction, the executive vice president now owns 15,972 shares in the company, valued at $7,634,616. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,615 shares of company stock worth $21,417,310. Insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Price Performance
Shares of Vertex Pharmaceuticals stock opened at $468.57 on Friday. The stock has a market capitalization of $120.94 billion, a price-to-earnings ratio of 30.41 and a beta of 0.40. The firm’s 50-day moving average price is $483.32 and its two-hundred day moving average price is $448.06. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $340.83 and a 1-year high of $510.64.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned $3.53 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.
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.
Featured Articles
- Five stocks we like better than Vertex Pharmaceuticals
- The Significance of Brokerage Rankings in Stock Selection
- Is There an AI Bubble: Yes? No? Maybe
- Upcoming IPO Stock Lockup Period, Explained
- GameStop in Rebound Mode: Is Now the Time to Buy?
- What is an Earnings Surprise?
- Is REV Group’s Pullback Your Chance to Buy Before the Next Surge?
Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report).
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.