Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 32.5% in the third quarter, Holdings Channel reports. The firm owned 57,867 shares of the pharmaceutical company’s stock after buying an additional 14,194 shares during the period. Daiwa Securities Group Inc.’s holdings in Vertex Pharmaceuticals were worth $26,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Hartford Funds Management Co LLC raised its stake in Vertex Pharmaceuticals by 4.1% in the third quarter. Hartford Funds Management Co LLC now owns 1,075 shares of the pharmaceutical company’s stock valued at $500,000 after buying an additional 42 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 13.3% during the third quarter. Summit Trail Advisors LLC now owns 3,264 shares of the pharmaceutical company’s stock valued at $1,518,000 after acquiring an additional 383 shares in the last quarter. Draper Asset Management LLC raised its position in shares of Vertex Pharmaceuticals by 10.9% in the 3rd quarter. Draper Asset Management LLC now owns 6,300 shares of the pharmaceutical company’s stock valued at $2,930,000 after purchasing an additional 618 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Vertex Pharmaceuticals by 133.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,272 shares of the pharmaceutical company’s stock worth $592,000 after purchasing an additional 728 shares in the last quarter. Finally, Centaurus Financial Inc. grew its position in Vertex Pharmaceuticals by 18.4% during the 3rd quarter. Centaurus Financial Inc. now owns 1,858 shares of the pharmaceutical company’s stock worth $864,000 after purchasing an additional 289 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.1 %

VRTX opened at $450.97 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $346.29 and a 52 week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The business has a fifty day simple moving average of $474.11 and a 200-day simple moving average of $473.36.

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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals 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 completion of the transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,445 shares of company stock worth $2,218,394. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Bank of America cut their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $504.38.

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.