Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Lessened by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 53,422 shares of the pharmaceutical company’s stock after selling 65 shares during the quarter. IFM Investors Pty Ltd’s holdings in Vertex Pharmaceuticals were worth $24,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. raised its holdings in Vertex Pharmaceuticals by 47.2% during the first quarter. Sunbelt Securities Inc. now owns 1,749 shares of the pharmaceutical company’s stock valued at $731,000 after buying an additional 561 shares in the last quarter. Brookstone Capital Management raised its holdings in Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after buying an additional 237 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Vertex Pharmaceuticals during the first quarter valued at about $42,000. DGS Capital Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter valued at about $277,000. Finally, Wealthcare Advisory Partners LLC grew its position in shares of Vertex Pharmaceuticals by 4.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,218 shares of the pharmaceutical company’s stock valued at $1,345,000 after purchasing an additional 141 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. TD Cowen lifted their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, Truist Financial reissued a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $492.92.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s 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 transaction, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,005 shares of company stock worth $5,988,066 in the last quarter. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded up $4.25 during trading on Thursday, reaching $474.30. The stock had a trading volume of 206,244 shares, compared to its average volume of 1,169,626. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The business’s 50-day moving average price is $475.60 and its 200 day moving average price is $461.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

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 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 firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm posted $3.53 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

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.