Nations Financial Group Inc. IA ADV Increases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nations Financial Group Inc. IA ADV lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,981 shares of the pharmaceutical company’s stock after purchasing an additional 226 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Vertex Pharmaceuticals were worth $1,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning raised its stake in Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Blue Trust Inc. raised its stake in Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $74,213,000. Susquehanna Fundamental Investments LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $21,008,000. Finally, Canada Pension Plan Investment Board raised its stake in Vertex Pharmaceuticals by 8.0% in the first quarter. Canada Pension Plan Investment Board now owns 386,648 shares of the pharmaceutical company’s stock valued at $161,623,000 after purchasing an additional 28,747 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. TD Cowen increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial reiterated a “buy” rating and set a $550.00 price target (up 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, nine have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $495.96.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $501.72 on Tuesday. The stock has a fifty day moving average of $475.40 and a 200 day moving average of $468.93. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $519.88. The firm has a market capitalization of $129.21 billion, a price-to-earnings ratio of -252.12 and a beta of 0.39. The company has a quick ratio of 2.26, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the firm posted $3.67 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

About Vertex Pharmaceuticals

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.