Legacy Bridge LLC Grows Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Legacy Bridge LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 90.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 211 shares of the pharmaceutical company’s stock after acquiring an additional 100 shares during the period. Legacy Bridge LLC’s holdings in Vertex Pharmaceuticals were worth $99,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VRTX. Capital World Investors increased its position in shares of Vertex Pharmaceuticals by 21.3% in the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after acquiring an additional 3,824,103 shares in the last quarter. Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $1,237,877,000. Capital Research Global Investors increased its stake in shares of Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Jennison Associates LLC grew its stake in Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after purchasing an additional 837,461 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at approximately $277,317,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated 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 in the company, valued at approximately $20,320,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. The disclosure for this sale can be found here. Insiders sold a total of 43,615 shares of company stock worth $21,417,310 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of Vertex Pharmaceuticals stock opened at $468.00 on Monday. The company’s 50-day moving average price is $483.31 and its 200-day moving average price is $448.78. The company has a market cap of $120.79 billion, a price-to-earnings ratio of 30.37 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.85 and a 12-month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.53 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRTX. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. HC Wainwright raised their price target on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets raised their price target on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Finally, Truist Financial restated a “buy” rating and issued a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.