Atlantic Union Bankshares Corp Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atlantic Union Bankshares Corp lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,558 shares of the pharmaceutical company’s stock after buying an additional 329 shares during the period. Atlantic Union Bankshares Corp’s holdings in Vertex Pharmaceuticals were worth $3,515,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VRTX. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth about $31,000. Finally, Founders Capital Management boosted its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRTX. Piper Sandler lifted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals Trading Down 0.5 %

NASDAQ VRTX opened at $464.56 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $472.81 and its two-hundred day simple moving average is $474.22. Vertex Pharmaceuticals Incorporated has a twelve month low of $346.29 and a twelve month high of $519.88. The company has a market capitalization of $119.64 billion, a price-to-earnings ratio of -233.45 and a beta of 0.39.

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