Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,595 shares of the pharmaceutical company’s stock after acquiring an additional 844 shares during the period. Mutual of America Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $16,215,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $27,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $31,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,047 shares of company stock valued at $16,843,806. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on VRTX. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Truist Financial reissued a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. BMO Capital Markets raised their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $485.91.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $481.26 on Wednesday. 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 market cap of $124.19 billion, a P/E ratio of 31.23 and a beta of 0.40. The firm has a 50 day simple moving average of $483.77 and a 200 day simple moving average of $451.24. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.85 and a 52 week high of $510.64.

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 the consensus estimate of ($12.54) by ($0.29). The company 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 quarter in the prior year, the business posted $3.53 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

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.