Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,005 shares of the pharmaceutical company’s stock after acquiring an additional 193 shares during the quarter. Portside Wealth Group LLC’s holdings in Vertex Pharmaceuticals were worth $932,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of VRTX. Capital World Investors boosted its holdings in Vertex Pharmaceuticals by 17.2% in 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 during the last quarter. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 1.8% during the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after acquiring an additional 394,338 shares during the last quarter. Capital Research Global Investors raised its position in Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Vertex Pharmaceuticals by 10.4% during 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 during the period. Finally, Legal & General Group Plc increased its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after purchasing an additional 29,104 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $516.74 on Friday. The company’s 50 day simple moving average is $475.40 and its 200-day simple moving average is $468.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $519.88. The firm has a market cap of $133.08 billion, a PE ratio of -259.67 and a beta of 0.39. The company has a current ratio of 2.47, a quick ratio of 2.26 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.67 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’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 of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s 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 sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VRTX. HC Wainwright reiterated a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Scotiabank lifted their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday. StockNews.com raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada boosted their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $495.96.

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.