Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,455 shares of the pharmaceutical company’s stock after purchasing an additional 1,007 shares during the period. Metis Global Partners LLC’s holdings in Vertex Pharmaceuticals were worth $6,258,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the third quarter valued at $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management increased its stake in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRTX shares. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Piper Sandler boosted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. TD Cowen lifted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Finally, Citigroup started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday. They issued a “buy” rating and a $575.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $499.12.

Vertex Pharmaceuticals Stock Up 0.9 %

VRTX stock opened at $494.61 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market cap of $127.38 billion, a PE ratio of -248.55 and a beta of 0.39. The company has a fifty day simple moving average of $476.13 and a 200 day simple moving average of $470.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $3.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, 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 value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.