Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 50.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,200 shares of the pharmaceutical company's stock after buying an additional 14,541 shares during the quarter. Vertex Pharmaceuticals makes up 1.4% of Cumberland Partners Ltd's investment portfolio, making the stock its 23rd largest holding. Cumberland Partners Ltd's holdings in Vertex Pharmaceuticals were worth $20,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Creative Planning raised its position in Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company's stock valued at $37,084,000 after purchasing an additional 3,998 shares during the period. Blue Trust Inc. grew its stake in Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company's stock valued at $676,000 after acquiring an additional 1,248 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $74,213,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $21,008,000. Finally, Keynote Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $498,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VRTX shares. Bank of America dropped their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 5th. Piper Sandler increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target 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. Finally, Guggenheim raised their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $495.96.

Insider Activity at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ VRTX traded down $11.72 during midday trading on Tuesday, reaching $490.00. 1,363,646 shares of the company's stock traded hands, compared to its average volume of 1,173,301. The company has a quick ratio of 2.26, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock's 50 day simple moving average is $475.52 and its 200-day simple moving average is $469.66. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $519.88. The company has a market cap of $126.19 billion, a price-to-earnings ratio of -252.12 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 earnings per share. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS 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.