Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,632 shares of the pharmaceutical company’s stock after purchasing an additional 99 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,640,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Vertex Pharmaceuticals by 21.3% during the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after purchasing an additional 3,824,103 shares in the last quarter. Norges Bank acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $1,237,877,000. Capital Research Global Investors lifted its stake in 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 valued at $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Jennison Associates LLC boosted its holdings 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 valued at $1,999,080,000 after acquiring an additional 837,461 shares during the period. Finally, Swedbank AB purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $277,317,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The disclosure for this sale can be found here. Insiders sold 39,185 shares of company stock valued at $19,206,094 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRTX shares. Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Canaccord Genuity Group raised their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Guggenheim upped their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Argus lifted their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $495.89 on Tuesday. The company has a market cap of $127.99 billion, a price-to-earnings ratio of 32.18 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $483.27 and a 200-day moving average of $447.32. Vertex Pharmaceuticals Incorporated has a 12-month low of $340.83 and a 12-month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) 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 analyst estimates 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 analysts expect that Vertex Pharmaceuticals Incorporated will post -1.85 EPS for the current fiscal year.

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.