First Hawaiian Bank Lowers Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First Hawaiian Bank decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,322 shares of the pharmaceutical company’s stock after selling 320 shares during the quarter. First Hawaiian Bank’s holdings in Vertex Pharmaceuticals were worth $1,557,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $25,000. Arlington Trust Co LLC boosted its stake in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the last quarter. Annapolis Financial Services LLC purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at $28,000. Finally, Baystate Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, insider Reshma Kewalramani 15,202 shares of the stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Reshma Kewalramani 15,202 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,423 shares of company stock valued at $25,528,865. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 0.3 %

Shares of Vertex Pharmaceuticals stock traded up $1.30 on Tuesday, reaching $478.21. 679,275 shares of the company were exchanged, compared to its average volume of 1,214,404. The stock’s 50 day moving average price is $479.65 and its 200-day moving average price is $440.12. The company has a market cap of $123.40 billion, a P/E ratio of 30.95 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1-year low of $340.68 and a 1-year high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.36%. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.53 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday. 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 research note on Friday. TD Cowen upped their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright upped their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Company 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.