Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by True Vision MN LLC

True Vision MN LLC reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 943 shares of the pharmaceutical company’s stock after selling 101 shares during the quarter. True Vision MN LLC’s holdings in Vertex Pharmaceuticals were worth $439,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. CreativeOne Wealth LLC grew its position in shares of Vertex Pharmaceuticals by 76.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,475 shares of the pharmaceutical company’s stock valued at $3,476,000 after buying an additional 3,242 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Vertex Pharmaceuticals by 107.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,065 shares of the pharmaceutical company’s stock valued at $22,819,000 after acquiring an additional 25,375 shares in the last quarter. Freedom Investment Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 3.7% during the third quarter. Freedom Investment Management Inc. now owns 4,714 shares of the pharmaceutical company’s stock worth $2,192,000 after purchasing an additional 168 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Vertex Pharmaceuticals by 31.6% during the third quarter. Townsquare Capital LLC now owns 15,054 shares of the pharmaceutical company’s stock worth $7,001,000 after purchasing an additional 3,616 shares in the last quarter. Finally, Baldwin Investment Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.1% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,891 shares of the pharmaceutical company’s stock valued at $5,530,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other 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 of the company’s stock, valued at $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock valued at $2,218,394 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VRTX has been the topic of a number of research reports. Bank of America dropped their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $472.00 to $509.00 in a report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Truist Financial reissued a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Finally, Royal Bank of Canada upped their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $504.38.

Vertex Pharmaceuticals Price Performance

VRTX traded down $1.51 on Wednesday, hitting $465.56. 111,441 shares of the company were exchanged, compared to its average volume of 1,187,820. The business’s fifty day moving average is $473.27 and its 200 day moving average is $474.35. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $346.29 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market capitalization of $119.90 billion, a P/E ratio of -234.71 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current 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.