Atlantic Union Bankshares Corp Acquires 1,719 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atlantic Union Bankshares Corp boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 31.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,229 shares of the pharmaceutical company’s stock after acquiring an additional 1,719 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Vertex Pharmaceuticals were worth $3,388,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VRTX. International Assets Investment Management LLC lifted its position in shares of Vertex Pharmaceuticals by 21,750.1% during the 4th quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock worth $46,853,000 after buying an additional 114,623 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $239,000. CWM LLC grew its position in shares of Vertex Pharmaceuticals by 3.5% during the 4th quarter. CWM LLC now owns 5,565 shares of the pharmaceutical company’s stock valued at $2,264,000 after purchasing an additional 190 shares in the last quarter. RWA Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals by 330.7% during the 4th quarter. RWA Wealth Partners LLC now owns 3,618 shares of the pharmaceutical company’s stock valued at $1,472,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 25.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 807 shares of the pharmaceutical company’s stock valued at $328,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the sale, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the sale, the executive vice president now owns 15,972 shares in the company, valued at $7,634,616. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the transaction, the executive vice president now directly owns 53,523 shares in the company, valued at $23,502,484.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,065 shares of company stock valued at $22,731,946. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on VRTX shares. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Piper Sandler lifted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Oppenheimer lifted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. HC Wainwright boosted their price target on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $485.91.

Vertex Pharmaceuticals Stock Up 0.3 %

VRTX stock traded up $1.35 during trading on Friday, hitting $481.24. 999,698 shares of the stock traded hands, compared to its average volume of 1,210,800. The stock has a market cap of $124.19 billion, a price-to-earnings ratio of 31.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.83 and a 1 year high of $510.64. The firm’s 50 day moving average is $480.98 and its two-hundred day moving average is $444.04.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business earned $3.53 EPS. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

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.