Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,640 shares of the pharmaceutical company’s stock after purchasing an additional 2,596 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Vertex Pharmaceuticals were worth $12,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VRTX. Groesbeck Investment Management Corp NJ increased its holdings in shares of 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 purchasing an additional 21 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its stake in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after acquiring an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC raised its holdings in Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was 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 in the company, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred 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 transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock valued at $2,218,394 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:VRTX traded down $2.51 during midday trading on Thursday, hitting $464.56. 1,006,922 shares of the company’s stock traded hands, compared to its average volume of 1,191,738. The firm’s fifty day moving average price is $473.08 and its two-hundred day moving average price is $474.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a twelve month low of $346.29 and a twelve month high of $519.88. The company has a market cap of $119.64 billion, a PE ratio of -233.45 and a beta of 0.39.

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 analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VRTX shares. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Canaccord Genuity Group lifted their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Piper Sandler increased their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. UBS Group lifted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup began coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Three equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

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.