Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Boosted by Greystone Financial Group LLC

Greystone Financial Group LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,117 shares of the pharmaceutical company’s stock after buying an additional 222 shares during the quarter. Greystone Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in VRTX. Capital World Investors boosted its stake in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after purchasing an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 394,338 shares in the last quarter. Capital Research Global Investors grew its stake in shares of 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 worth $2,401,000,000 after purchasing an additional 2,176,218 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after purchasing an additional 837,461 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of 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 purchasing an additional 244,336 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly 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. Insiders have sold a total of 12,005 shares of company stock valued at $5,988,066 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $470.05 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The firm has a fifty day moving average price of $475.60 and a 200 day moving average price of $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company posted $3.53 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the topic of several recent research reports. Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price target on the stock. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. Finally, Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $492.92.

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.