Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.1% during the 2nd quarter, Holdings Channel reports. The fund owned 2,423 shares of the pharmaceutical company’s stock after purchasing an additional 117 shares during the period. Legacy Financial Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Capital World Investors boosted its holdings in Vertex Pharmaceuticals by 21.3% in the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after purchasing an additional 3,824,103 shares during the last quarter. Capital Research Global Investors boosted 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 boosted its stake in shares of 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 buying an additional 837,461 shares during the last quarter. Swedbank AB acquired a new stake in Vertex Pharmaceuticals during the first quarter worth about $277,317,000. Finally, AMF Tjanstepension AB purchased a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $257,655,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.7 %

Shares of NASDAQ VRTX opened at $464.92 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The company has a market capitalization of $119.97 billion, a P/E ratio of 30.17 and a beta of 0.40. The company has a 50 day simple moving average of $482.66 and a 200-day simple moving average of $451.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’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 firm earned $3.53 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,047 shares of company stock valued at $16,843,806. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HC Wainwright raised their price objective on shares of 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 lifted their price objective 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. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Oppenheimer upped their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial reissued a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $486.36.

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.