Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Lifted by Principal Street Partners LLC

Principal Street Partners LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,010 shares of the pharmaceutical company’s stock after purchasing an additional 629 shares during the quarter. Principal Street Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,406,000 at the end of the most recent reporting period.

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

Vertex Pharmaceuticals Trading Down 0.3 %

Shares of VRTX opened at $460.33 on Tuesday. The stock has a 50 day simple moving average of $473.55 and a 200-day simple moving average of $474.04. 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 stock has a market cap of $118.55 billion, a PE ratio of -232.02 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $346.29 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $3.67 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on VRTX. Piper Sandler raised their target price 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. UBS Group lifted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Oppenheimer reduced their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Finally, Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Insiders Place Their Bets

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 stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction 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 owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is currently owned by insiders.

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.