Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,042 shares of the pharmaceutical company’s stock after acquiring an additional 29,225 shares during the period. Cerity Partners LLC’s holdings in Vertex Pharmaceuticals were worth $106,523,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Groesbeck Investment Management Corp NJ increased its position in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after purchasing an additional 21 shares during the period. Mutual Advisors LLC increased its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. raised its position in shares of Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after buying an additional 22 shares in the last quarter. Drive Wealth Management LLC lifted its holdings 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. Finally, Daymark Wealth Partners LLC raised its position in Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction 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 owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRTX. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Piper Sandler upped their price target 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. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, Citigroup assumed coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $504.38.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $450.97 on Friday. The business has a 50 day simple moving average of $474.11 and a 200-day simple moving average of $472.92. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.67 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current 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.