57,825 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 57,825 shares of the pharmaceutical company's stock, valued at approximately $26,893,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $31,000. Finally, Founders Capital Management increased its stake in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company's stock in a transaction dated 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 sale, the chairman now directly owns 9,994 shares of the company's stock, valued at $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,445 shares of company stock valued at $2,218,394 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on VRTX. Truist Financial reiterated a "buy" rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 5th. Cantor Fitzgerald restated an "overweight" rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Barclays downgraded shares of 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 research note on Monday, August 5th. Finally, Oppenheimer lowered their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $499.12.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $448.01 on Wednesday. The company has a market cap of $115.38 billion, a P/E ratio of -225.13 and a beta of 0.39. The company has a fifty day simple moving average of $475.85 and a 200 day simple moving average of $472.89. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 EPS. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.

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