Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,827 shares of the pharmaceutical company’s stock after purchasing an additional 502 shares during the period. Concord Asset Management LLC VA’s holdings in Vertex Pharmaceuticals were worth $1,315,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VRTX. Adero Partners LLC boosted its holdings in Vertex Pharmaceuticals by 2.2% in the third quarter. Adero Partners LLC now owns 1,342 shares of the pharmaceutical company’s stock valued at $624,000 after purchasing an additional 29 shares in the last quarter. Atlanta Consulting Group Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 303.9% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 1,769 shares of the pharmaceutical company’s stock worth $823,000 after buying an additional 1,331 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 5.8% in the 3rd quarter. Natixis Advisors LLC now owns 461,886 shares of the pharmaceutical company’s stock valued at $214,813,000 after buying an additional 25,301 shares in the last quarter. Mizuho Securities USA LLC grew its position in shares of Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after buying an additional 57,497 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its stake in Vertex Pharmaceuticals by 2.7% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 1,523 shares of the pharmaceutical company’s stock worth $708,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $465.70 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $519.88. The firm’s fifty day simple moving average is $476.39 and its 200-day simple moving average is $471.60. The stock has a market cap of $119.93 billion, a PE ratio of -234.02 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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 net margin of 4.52% and a negative return on equity of 1.91%. 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 company posted $3.67 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated 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 directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction 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 position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on VRTX shares. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Finally, Truist Financial reiterated a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $499.12.

About Vertex Pharmaceuticals

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.