Amalgamated Bank Has $26.13 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Amalgamated Bank boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,190 shares of the pharmaceutical company’s stock after purchasing an additional 2,383 shares during the period. Amalgamated Bank’s holdings in Vertex Pharmaceuticals were worth $26,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $25,000. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth $31,000. Finally, Founders Capital Management lifted its holdings in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRTX shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. HC Wainwright restated a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $492.50.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were 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 approximately $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,710 shares of company stock valued at $3,298,206 in the last quarter. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $472.80 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The firm’s 50 day simple moving average is $474.34 and its 200 day simple moving average is $466.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64.

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. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $3.67 EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.