National Bank of Canada FI Has $48.27 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

National Bank of Canada FI lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) 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) 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.