Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 48.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,272 shares of the pharmaceutical company’s stock after purchasing an additional 414 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Vertex Pharmaceuticals were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brookstone Capital Management lifted its stake in Vertex Pharmaceuticals by 11.1% in the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after acquiring an additional 237 shares during the last quarter. Creative Planning grew its stake in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Blue Trust Inc. increased its holdings in Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after buying an additional 1,248 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at $74,213,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $21,008,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,005 shares of company stock worth $5,988,066. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.0 %

NASDAQ VRTX opened at $470.05 on Thursday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $121.30 billion, a P/E ratio of 30.50 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The firm has a 50-day moving average price of $475.60 and a 200 day moving average price of $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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 return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the company posted $3.53 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on VRTX. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $472.00 to $509.00 in a report on Monday, August 5th. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Scotiabank started coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price target on the stock. Finally, Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $492.92.

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.