Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Adero Partners LLC

Adero Partners LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,342 shares of the pharmaceutical company’s stock after buying an additional 29 shares during the quarter. Adero Partners LLC’s holdings in Vertex Pharmaceuticals were worth $624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning lifted its holdings in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after buying an additional 3,998 shares during the period. Blue Trust Inc. raised its holdings in Vertex Pharmaceuticals by 640.0% in the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares during the period. Manning & Napier Advisors LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $74,213,000. Susquehanna Fundamental Investments LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $21,008,000. Finally, Keynote Financial Services LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $498,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $323,000.00. Following the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VRTX shares. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Oppenheimer reduced their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Truist Financial reissued a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $499.12.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $465.70 on Friday. The firm has a market capitalization of $119.93 billion, a PE ratio of -234.02 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 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. The business has a 50 day simple moving average of $476.39 and a 200-day simple moving average of $471.60.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.67 earnings per share. Equities research analysts anticipate 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.