Drake & Associates LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Drake & Associates LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 51.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 708 shares of the pharmaceutical company’s stock after buying an additional 241 shares during the quarter. Drake & Associates LLC’s holdings in Vertex Pharmaceuticals were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors lifted its position in Vertex Pharmaceuticals by 17.2% in the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after buying an additional 3,761,414 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after acquiring an additional 394,338 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares during the period. Jennison Associates LLC increased its holdings in Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Vertex Pharmaceuticals by 10.4% in the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after purchasing an additional 244,336 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the sale, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the sale, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,487 shares of company stock worth $14,657,149 in the last quarter. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $498.73 on Friday. The company has a market cap of $128.72 billion, a PE ratio of -245.68 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $474.92 and a two-hundred day moving average price of $459.08. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted $3.53 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research analyst reports. UBS Group raised their price target on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Redburn Atlantic began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Truist Financial reissued a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $492.92.

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.