Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 289.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,393 shares of the pharmaceutical company's stock after purchasing an additional 57,497 shares during the period. Mizuho Securities USA LLC's holdings in Vertex Pharmaceuticals were worth $35,994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth approximately $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter worth $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $31,000. Finally, Founders Capital Management increased its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd 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. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded down $18.26 during trading on Friday, reaching $465.70. The company had a trading volume of 2,581,391 shares, compared to its average volume of 1,180,121. The firm has a market capitalization of $119.93 billion, a price-to-earnings ratio of -234.02 and a beta of 0.39. The stock's fifty day moving average price is $476.39 and its 200 day moving average price is $471.06. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

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, topping analysts' consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the company posted $3.67 earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRTX shares. Bank of America decreased their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Oppenheimer lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Guggenheim raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, Citigroup began coverage on shares of Vertex Pharmaceuticals in a report on Thursday. They issued a "buy" rating and a $575.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $499.12.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm'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 value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares of the company's stock, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business'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 sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Company 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.