Boston Trust Walden Corp Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Boston Trust Walden Corp reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 960 shares of the pharmaceutical company’s stock after selling 150 shares during the quarter. Boston Trust Walden Corp’s holdings in Vertex Pharmaceuticals were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Groesbeck Investment Management Corp NJ grew its stake in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after acquiring an additional 22 shares during the period. Drive Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after acquiring an additional 22 shares during the period. Daymark Wealth Partners LLC grew its stake in shares of Vertex Pharmaceuticals by 2.8% during 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 stake 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 acquiring an additional 22 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $477.70 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64. The stock’s 50-day moving average is $475.61 and its 200 day moving average is $462.73.

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 analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.53 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’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 value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. 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 three months, insiders have sold 12,005 shares of company stock valued at $5,988,066. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VRTX shares. Piper Sandler increased their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Bank of America cut their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Oppenheimer raised their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $492.92.

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.