Intech Investment Management LLC Has $8.24 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

by · The Markets Daily

Intech Investment Management LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 7.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,713 shares of the pharmaceutical company’s stock after selling 1,489 shares during the period. Intech Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $8,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management lifted its holdings in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VRTX. Royal Bank of Canada raised their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Piper Sandler lifted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America dropped their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research note on Monday, October 14th. UBS Group lifted their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Scotiabank lifted their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $499.12.

Get Our Latest Research Report on VRTX

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the 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 sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value 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 represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,445 shares of company stock valued at $2,218,394 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.4 %

VRTX stock opened at $449.32 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company has a market capitalization of $115.71 billion, a price-to-earnings ratio of -225.79 and a beta of 0.39. The business’s 50 day moving average price is $474.80 and its two-hundred day moving average price is $472.58. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $346.29 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating 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 company earned $3.67 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

(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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