Zions Bancorporation N.A. Sells 45 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Zions Bancorporation N.A. reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171 shares of the pharmaceutical company’s stock after selling 45 shares during the quarter. Zions Bancorporation N.A.’s holdings in Vertex Pharmaceuticals were worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC raised its position in Vertex Pharmaceuticals by 33.0% during the 1st quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock valued at $167,000 after purchasing an additional 99 shares in the last quarter. Clearstead Trust LLC grew its position in Vertex Pharmaceuticals by 104.5% during the 1st quarter. Clearstead Trust LLC now owns 137 shares of the pharmaceutical company’s stock worth $57,000 after purchasing an additional 70 shares during the period. Intech Investment Management LLC grew its position in Vertex Pharmaceuticals by 107.0% during the first quarter. Intech Investment Management LLC now owns 20,555 shares of the pharmaceutical company’s stock valued at $8,592,000 after buying an additional 10,624 shares during the period. TIAA Trust National Association increased its holdings in Vertex Pharmaceuticals by 0.5% in the 1st quarter. TIAA Trust National Association now owns 5,348 shares of the pharmaceutical company’s stock worth $2,236,000 after acquiring an additional 26 shares in the last quarter. Finally, Cercano Management LLC lifted its position in shares of Vertex Pharmaceuticals by 0.4% in the first quarter. Cercano Management LLC now owns 70,533 shares of the pharmaceutical company’s stock valued at $29,483,000 after acquiring an additional 311 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other 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 sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Oppenheimer decreased their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $575.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $499.12.

Vertex Pharmaceuticals Trading Down 3.8 %

NASDAQ:VRTX opened at $465.70 on Friday. The stock has a fifty day simple moving average of $476.44 and a 200 day simple moving average of $470.57. The firm has a market capitalization of $119.93 billion, a price-to-earnings ratio of -235.63 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. The firm 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 4.52% and a negative return on equity of 1.91%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.67 EPS. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current 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.