Victory Capital Management Inc. Has $144.37 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Victory Capital Management Inc. lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,414 shares of the pharmaceutical company’s stock after selling 15,334 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Vertex Pharmaceuticals worth $144,367,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Creative Planning increased its position in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares during the last quarter. Blue Trust Inc. increased its position in Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after buying an additional 1,248 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $74,213,000. Susquehanna Fundamental Investments LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $21,008,000. Finally, Keynote Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $498,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $490.00 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The company’s 50-day moving average is $475.52 and its 200-day moving average is $469.66.

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

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on VRTX. Barclays downgraded 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 report on Monday, August 5th. Piper Sandler upped their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Finally, TD Cowen boosted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $495.96.

Vertex Pharmaceuticals 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.