Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 140,580 shares of the pharmaceutical company’s stock after selling 27,036 shares during the period. Baillie Gifford & Co.’s holdings in Vertex Pharmaceuticals were worth $65,381,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its position in Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after buying an additional 394,338 shares in the last quarter. Capital Research Global Investors grew its stake in 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 valued at $2,401,000,000 after acquiring an additional 2,176,218 shares during the period. Janus Henderson Group PLC increased its holdings in Vertex Pharmaceuticals by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock worth $1,080,296,000 after acquiring an additional 244,336 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Vertex Pharmaceuticals by 1.2% during the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after acquiring an additional 29,104 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals 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 sale, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’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 $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $490.00 on Wednesday. The firm has a 50 day moving average of $475.52 and a two-hundred day moving average of $469.66. 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 Incorporated has a 52 week low of $341.90 and a 52 week high of $519.88.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the business earned $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.