Victory Capital Management Inc. Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Victory Capital Management Inc. decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,414 shares of the pharmaceutical company's stock after selling 15,334 shares during the period. Victory Capital Management Inc. owned about 0.12% of Vertex Pharmaceuticals worth $144,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $31,000. Finally, Founders Capital Management lifted 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 worth $35,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated 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 of the company's stock, valued at approximately $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 is accessible through this link. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business's 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 in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Up 0.9 %

Shares of NASDAQ VRTX traded up $4.61 on Wednesday, reaching $494.61. 963,206 shares of the company's stock traded hands, compared to its average volume of 1,172,864. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business's 50 day simple moving average is $475.81 and its two-hundred day simple moving average is $470.31. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $519.88. The company has a market cap of $127.38 billion, a price-to-earnings ratio of -248.55 and a beta of 0.39.

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 (EPS) for the quarter, beating 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 business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Barclays lowered Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Raymond James restated a "market perform" rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, 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 note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $495.96.

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.