New Age Alpha Advisors LLC lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,622 shares of the pharmaceutical company’s stock after selling 1,317 shares during the period. New Age Alpha Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $5,722,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Vertex Pharmaceuticals by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after acquiring an additional 243,088 shares during the period. Capital Research Global Investors increased its holdings in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after acquiring an additional 444,990 shares during the period. Capital International Investors increased its holdings in Vertex Pharmaceuticals by 77.9% during the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after acquiring an additional 2,053,156 shares during the period. Alliancebernstein L.P. increased its holdings in Vertex Pharmaceuticals by 3.3% during the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock worth $1,771,226,000 after acquiring an additional 144,266 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Vertex Pharmaceuticals by 4.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company’s stock worth $891,744,000 after acquiring an additional 95,565 shares during the period. Institutional investors own 90.96% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Truist Financial raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 27th. Barclays increased their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $555.17.
Vertex Pharmaceuticals Stock Performance
Shares of NASDAQ:VRTX opened at $434.52 on Monday. The stock’s 50-day moving average price is $441.55 and its 200-day moving average price is $451.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The stock has a market capitalization of $110.28 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.86 and a beta of 0.30.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the firm earned $4.06 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current year.
Insider Activity
In other news, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amit Sachdev sold 1,846 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $897,802.10. Following the transaction, the executive vice president directly owned 55,570 shares in the company, valued at $27,026,469.50. This trade represents a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,189 shares of company stock valued at $9,923,036. Company insiders own 0.20% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
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