KBC Group NV Buys 9,685 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

KBC Group NV raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,727 shares of the pharmaceutical company's stock after buying an additional 9,685 shares during the period. KBC Group NV's holdings in Vertex Pharmaceuticals were worth $44,986,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth $31,000. Finally, Founders Capital Management raised its stake in shares of 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 period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 3.8 %

Shares of NASDAQ VRTX traded down $18.26 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 quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $519.88. The business has a 50 day moving average of $476.44 and a two-hundred day moving average of $470.57. The firm has a market capitalization of $119.93 billion, a P/E ratio of -235.63 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping 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 firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. Vertex Pharmaceuticals's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VRTX shares. JPMorgan Chase & Co. dropped their target price 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. Citigroup began coverage on Vertex Pharmaceuticals in a research report on Thursday. They set a "buy" rating and a $575.00 price target for the company. Morgan Stanley upped their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Piper Sandler increased their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, Raymond James restated a "market perform" rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $499.12.

Insider Activity

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company's stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on 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 completion of the sale, the chairman now directly owns 9,994 shares of the company's stock, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate 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.