Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,580 shares of the pharmaceutical company’s stock after buying an additional 6,919 shares during the period. Congress Asset Management Co. owned about 0.07% of Vertex Pharmaceuticals worth $87,705,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Creative Planning raised its holdings in shares of 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 acquiring an additional 3,998 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Vertex Pharmaceuticals by 640.0% in the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after buying an additional 1,248 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Vertex Pharmaceuticals in the second quarter worth approximately $74,213,000. Susquehanna Fundamental Investments LLC acquired a new position in Vertex Pharmaceuticals in the second quarter worth approximately $21,008,000. Finally, Canada Pension Plan Investment Board raised its position in Vertex Pharmaceuticals by 8.0% during 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 acquiring an additional 28,747 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Piper Sandler upped their price target 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. Bank of America dropped their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Oppenheimer decreased their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $492.50.

Get Our Latest Research Report on VRTX

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $1.85 during midday trading on Thursday, hitting $473.23. 130,865 shares of the company’s stock were exchanged, compared to its average volume of 1,160,115. The company’s 50 day moving average price is $474.81 and its 200 day moving average price is $463.87. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The firm has a market capitalization of $122.14 billion, a PE ratio of -234.03 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

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 transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents 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 Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,710 shares of company stock worth $3,298,206 over the last three months. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.

Further Reading

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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