Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Reduced by Albion Financial Group UT

Albion Financial Group UT lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,298 shares of the pharmaceutical company’s stock after selling 22 shares during the quarter. Albion Financial Group UT’s holdings in Vertex Pharmaceuticals were worth $604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised 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 valued at $10,687,339,000 after buying an additional 3,761,414 shares during the period. Capital Research Global Investors boosted its holdings in shares of Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares during the period. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after buying an additional 837,461 shares during the period. Swedbank AB acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $277,317,000. Finally, AMF Tjanstepension AB purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $257,655,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,487 shares of company stock valued at $14,657,149. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research reports. Oppenheimer upped their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday. HC Wainwright raised their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. TD Cowen increased their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $486.95.

Vertex Pharmaceuticals Stock Up 1.7 %

Shares of NASDAQ VRTX opened at $476.15 on Friday. The business has a fifty day moving average of $473.74 and a two-hundred day moving average of $456.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The stock has a market cap of $122.89 billion, a PE ratio of -234.56 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.53 earnings per share. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 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.