Evergreen Capital Management LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Evergreen Capital Management LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,636 shares of the pharmaceutical company’s stock after acquiring an additional 220 shares during the period. Evergreen Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of VRTX. Capital World Investors lifted its holdings in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Vertex Pharmaceuticals by 1.8% during the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after buying an additional 394,338 shares during the period. Capital Research Global Investors lifted its holdings 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 in the last quarter. Jennison Associates LLC boosted its position 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, Janus Henderson Group PLC grew its stake in Vertex Pharmaceuticals by 10.4% during the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after acquiring an additional 244,336 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $462.99 on Wednesday. The company has a market capitalization of $119.50 billion, a P/E ratio of 30.04 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The stock has a 50 day moving average price of $481.53 and a two-hundred day moving average price of $453.10.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly 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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company earned $3.53 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. Insiders have sold 31,767 shares of company stock valued at $15,768,284 over the last ninety days. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on VRTX. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target for the company. Truist Financial reissued a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $486.36.

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.