Allspring Global Investments Holdings LLC Purchases 37,399 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Allspring Global Investments Holdings LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 236,326 shares of the pharmaceutical company’s stock after buying an additional 37,399 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vertex Pharmaceuticals were worth $109,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Groesbeck Investment Management Corp NJ raised its position in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after buying an additional 21 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares during the period. Drive Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after acquiring an additional 22 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after acquiring an additional 22 shares during the period. Finally, Grove Bank & Trust grew its holdings in shares of Vertex Pharmaceuticals by 5.7% during the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock worth $191,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VRTX shares. UBS Group upped their target price on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Trading Down 3.2 %

VRTX stock opened at $483.00 on Monday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64. The company has a market cap of $124.66 billion, a P/E ratio of -237.93 and a beta of 0.40. The business has a fifty day moving average of $475.21 and a 200-day moving average of $460.23.

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 the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $3.53 earnings per share. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total value of $1,113,688.80. Following the completion of the sale, the chief marketing officer now owns 25,539 shares of the company’s stock, valued at $12,474,779.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,285 shares of company stock worth $7,101,755 over the last ninety days. Company insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.