Crossmark Global Holdings Inc. Decreases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Crossmark Global Holdings Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,866 shares of the pharmaceutical company’s stock after selling 298 shares during the period. Crossmark Global Holdings Inc.’s holdings in Vertex Pharmaceuticals were worth $2,729,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ:VRTX opened at $490.00 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The business has a 50 day simple moving average of $475.52 and a two-hundred day simple moving average of $469.66. The firm has a market capitalization of $126.19 billion, a PE ratio of -246.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Barclays downgraded shares of 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. TD Cowen lifted their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.96.

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.