Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% in the third quarter, HoldingsChannel reports. The firm owned 5,634 shares of the pharmaceutical company’s stock after acquiring an additional 62 shares during the period. Meeder Advisory Services Inc.’s holdings in Vertex Pharmaceuticals were worth $2,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC grew its stake in Vertex Pharmaceuticals by 3,856.6% in the 3rd quarter. Quest Partners LLC now owns 3,284 shares of the pharmaceutical company’s stock worth $1,527,000 after acquiring an additional 3,201 shares during the period. Claro Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 24.1% in the 3rd quarter. Claro Advisors LLC now owns 2,425 shares of the pharmaceutical company’s stock valued at $1,128,000 after purchasing an additional 471 shares during the last quarter. Concord Asset Management LLC VA boosted its holdings in shares of Vertex Pharmaceuticals by 21.6% in the 3rd quarter. Concord Asset Management LLC VA now owns 2,827 shares of the pharmaceutical company’s stock valued at $1,315,000 after purchasing an additional 502 shares during the last quarter. Adero Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.2% in the 3rd quarter. Adero Partners LLC now owns 1,342 shares of the pharmaceutical company’s stock valued at $624,000 after purchasing an additional 29 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 303.9% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 1,769 shares of the pharmaceutical company’s stock valued at $823,000 after purchasing an additional 1,331 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred 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 $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’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 transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Oppenheimer decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $472.00 to $509.00 in a report on Monday, August 5th. Bank of America reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $499.12.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $463.11 on Monday. The company has a 50-day moving average of $476.39 and a 200-day moving average of $472.09. Vertex Pharmaceuticals Incorporated has a 1-year low of $346.29 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the business posted $3.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current 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.