Broderick Brian C Increases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Broderick Brian C raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 51.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,460 shares of the pharmaceutical company's stock after purchasing an additional 3,876 shares during the period. Broderick Brian C's holdings in Vertex Pharmaceuticals were worth $5,330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Capital World Investors increased its position in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company's stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company's stock worth $9,479,011,000 after purchasing an additional 394,338 shares during the period. Capital Research Global Investors lifted its holdings in Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company's stock valued at $2,401,000,000 after buying an additional 2,176,218 shares during the period. Janus Henderson Group PLC lifted its stake in Vertex Pharmaceuticals by 10.4% in the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company's stock valued at $1,080,296,000 after buying an additional 244,336 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company's stock worth $1,135,556,000 after buying an additional 29,104 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the company'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 sale, the director now directly owns 4,435 shares of the company's stock, valued at $2,217,500. This represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business'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 owns 9,994 shares of the company's stock, valued at $4,987,006. This trade represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Bank of America reduced their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a report on Monday, October 14th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday. They issued a "buy" rating and a $575.00 target price on the stock. Oppenheimer dropped their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $499.12.

Vertex Pharmaceuticals Stock Down 3.8 %

Shares of VRTX traded down $18.26 during trading hours on Friday, hitting $465.70. The company had a trading volume of 2,581,324 shares, compared to its average volume of 1,179,486. The company has a market capitalization of $119.93 billion, a PE ratio of -235.63 and a beta of 0.39. The company's fifty day moving average price is $476.44 and its two-hundred day moving average price is $470.57. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $519.88. 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 (NASDAQ:VRTX - Get Free Report) 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 firm had revenue of $2.77 billion for 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%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 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.