Brooklyn Investment Group Buys 87 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Brooklyn Investment Group raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,873 shares of the pharmaceutical company’s stock after purchasing an additional 87 shares during the period. Brooklyn Investment Group’s holdings in Vertex Pharmaceuticals were worth $871,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whalen Wealth Management Inc. bought a new position in Vertex Pharmaceuticals in the third quarter worth $662,000. Creative Planning boosted its holdings in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC grew its position in Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after acquiring an additional 57,497 shares during the period. Blue Trust Inc. raised its stake in Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $74,213,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research analyst reports. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Citigroup began coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $504.38.

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,445 shares of company stock worth $2,218,394. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.5 %

Shares of Vertex Pharmaceuticals stock opened at $463.94 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88. The company has a market capitalization of $119.48 billion, a price-to-earnings ratio of -232.02 and a beta of 0.39. The firm’s 50-day moving average price is $473.55 and its two-hundred day moving average price is $474.04.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business posted $3.67 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

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.