Hemenway Trust Co LLC Has $18.66 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hemenway Trust Co LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 41.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,119 shares of the pharmaceutical company's stock after purchasing an additional 11,682 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.5% of Hemenway Trust Co LLC's portfolio, making the stock its 28th largest holding. Hemenway Trust Co LLC's holdings in Vertex Pharmaceuticals were worth $18,659,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quent Capital LLC raised its position in shares of Vertex Pharmaceuticals by 33.0% in the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company's stock valued at $167,000 after buying an additional 99 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Vertex Pharmaceuticals by 21.5% during the first quarter. Atomi Financial Group Inc. now owns 882 shares of the pharmaceutical company's stock worth $369,000 after purchasing an additional 156 shares during the period. Concurrent Investment Advisors LLC raised its stake in Vertex Pharmaceuticals by 93.2% during the first quarter. Concurrent Investment Advisors LLC now owns 1,287 shares of the pharmaceutical company's stock worth $538,000 after acquiring an additional 621 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Vertex Pharmaceuticals by 13.4% in the first quarter. Meeder Asset Management Inc. now owns 591 shares of the pharmaceutical company's stock valued at $247,000 after buying an additional 70 shares during the period. Finally, Williams Jones Wealth Management LLC. boosted its stake in shares of Vertex Pharmaceuticals by 9.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 1,141 shares of the pharmaceutical company's stock worth $477,000 after acquiring an additional 100 shares during the period. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VRTX. JPMorgan Chase & Co. lowered their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Piper Sandler increased their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. UBS Group increased their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a "sell" rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $495.96.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $11.72 during trading on Tuesday, reaching $490.00. The company had a trading volume of 1,363,646 shares, compared to its average volume of 1,173,301. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.26 and a current ratio of 2.47. The stock has a market cap of $126.19 billion, a PE ratio of -252.12 and a beta of 0.39. The business's 50 day moving average price is $475.52 and its 200-day moving average price is $469.66. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $519.88.

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

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated 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 approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the 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 owns 9,994 shares of the company's stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.