Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Baxter Bros Inc.

Baxter Bros Inc. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,032 shares of the pharmaceutical company’s stock after acquiring an additional 52 shares during the period. Baxter Bros Inc.’s holdings in Vertex Pharmaceuticals were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VRTX. Capital World Investors grew its holdings in Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after acquiring an additional 3,761,414 shares during the period. Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after acquiring an additional 2,176,218 shares during the period. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 21.2% during the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after acquiring an additional 837,461 shares during the period. Swedbank AB acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth about $277,317,000. Finally, AMF Tjanstepension AB acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $257,655,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $471.12 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $474.53 and its two-hundred day moving average is $464.95. The company has a market cap of $121.60 billion, a P/E ratio of -232.08 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRTX. Piper Sandler raised their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer reduced their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Scotiabank started coverage on Vertex Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $492.50.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,710 shares of company stock valued at $3,298,206 in the last three months. Company insiders own 0.20% of the company’s stock.

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.