Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,372 shares of the pharmaceutical company’s stock after purchasing an additional 863 shares during the quarter. Parallel Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $2,987,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $325,000. HBK Sorce Advisory LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth $240,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Meeder Advisory Services Inc. lifted its position in Vertex Pharmaceuticals by 39.4% in the second quarter. Meeder Advisory Services Inc. now owns 5,572 shares of the pharmaceutical company’s stock valued at $2,612,000 after acquiring an additional 1,574 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Vertex Pharmaceuticals by 2.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 501,509 shares of the pharmaceutical company’s stock valued at $237,126,000 after acquiring an additional 10,380 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on VRTX. HC Wainwright boosted 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. Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Royal Bank of Canada cut their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Hold” and a consensus price target of $485.91.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. 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, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now owns 30,099 shares in the company, valued at $14,198,300.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock valued at $16,843,806 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $485.37 on Friday. 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 one year low of $341.85 and a one year high of $510.64. The firm has a market capitalization of $125.27 billion, a P/E ratio of 31.50 and a beta of 0.40. The company’s fifty day moving average is $483.72 and its two-hundred day moving average is $450.25.

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