Waldron Private Wealth LLC Acquires 78 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

by · The Markets Daily

Waldron Private Wealth LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,083 shares of the pharmaceutical company’s stock after purchasing an additional 78 shares during the period. Waldron Private Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $2,364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors boosted its position in shares of Vertex Pharmaceuticals by 17.2% during 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 purchasing an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. grew its position 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 buying an additional 394,338 shares during the period. Capital Research Global Investors increased its stake in shares of Vertex Pharmaceuticals by 61.0% in 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 acquiring an additional 2,176,218 shares in the last quarter. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 21.2% during the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after acquiring an additional 837,461 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Vertex Pharmaceuticals by 10.4% during 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 in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRTX. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target for the company. TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Oppenheimer boosted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Piper Sandler increased their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $492.92.

Get Our Latest Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Trading Down 0.8 %

NASDAQ VRTX traded down $3.62 on Tuesday, hitting $474.47. 685,856 shares of the stock were exchanged, compared to its average volume of 1,172,884. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The firm has a market capitalization of $122.44 billion, a P/E ratio of 30.82 and a beta of 0.40. The stock has a fifty day moving average price of $475.48 and a two-hundred day moving average price of $460.75.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,285 shares of company stock valued at $7,101,755. Insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

(Free Report)

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.

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