Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Tidal Investments LLC

Tidal Investments LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 95,685 shares of the pharmaceutical company’s stock after acquiring an additional 3,604 shares during the quarter. Tidal Investments LLC’s holdings in Vertex Pharmaceuticals were worth $47,530,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Summit Global Investments acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $3,568,000. Allworth Financial LP raised its stake in shares of Vertex Pharmaceuticals by 414.1% during the fourth quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock worth $6,363,000 after purchasing an additional 11,306 shares during the last quarter. Calamos Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 77.1% during the first quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock worth $34,779,000 after purchasing an additional 33,917 shares during the last quarter. Meiji Yasuda America Inc acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $1,911,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in shares of Vertex Pharmaceuticals by 11.9% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock worth $15,625,000 after purchasing an additional 3,710 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.5%

NASDAQ:VRTX opened at $521.12 on Thursday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $560.25. The stock has a market cap of $132.26 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.29 and a beta of 0.32. The firm’s fifty day simple moving average is $511.53 and its 200-day simple moving average is $472.59.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $4.52 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $653.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, September 1st. Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.52.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Duncan McKechnie sold 1,541 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the sale, the executive vice president owned 11,001 shares in the company, valued at $5,709,519. This represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the completion of the transaction, the chief marketing officer directly owned 16,953 shares of the company’s stock, valued at $7,628,850. The trade was a 19.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 8,719 shares of company stock valued at $4,174,147. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company combines research in human genetics with drug discovery and development.

Vertex is best known for its cystic fibrosis portfolio, which includes CFTR modulator therapies such as Kalydeco, Orkambi, Symdeko and the combination marketed as Trikafta in the United States and Kaftrio in other markets.