Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 236,326 shares of the pharmaceutical company’s stock after purchasing an additional 37,399 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Vertex Pharmaceuticals worth $109,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ grew its holdings in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares during the last quarter. Drive Wealth Management LLC grew its stake in Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares in the last quarter. Daymark Wealth Partners LLC increased its holdings in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after buying an additional 22 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in Vertex Pharmaceuticals by 5.7% during the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 3.2 %

VRTX stock opened at $483.00 on Monday. The company’s 50 day simple moving average is $475.21 and its 200-day simple moving average is $460.23. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The firm has a market capitalization of $124.66 billion, a P/E ratio of -237.93 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % 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 link. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,285 shares of company stock worth $7,101,755. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price target for the company. Royal Bank of Canada dropped their price objective on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $492.92.

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.