Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,704 shares of the pharmaceutical company’s stock after selling 40,789 shares during the quarter. Ensign Peak Advisors Inc owned about 0.07% of Vertex Pharmaceuticals worth $86,106,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals during the first quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $28,000. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Finally, Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on VRTX. Canaccord Genuity Group boosted their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Piper Sandler increased their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen boosted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $486.36.

Vertex Pharmaceuticals Stock Down 2.7 %

NASDAQ:VRTX opened at $464.92 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company has a market capitalization of $119.97 billion, a price-to-earnings ratio of 30.17 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a one year low of $341.85 and a one year high of $510.64. The stock has a 50-day simple moving average of $482.66 and a 200 day simple moving average of $452.12.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the sale, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock valued at $16,843,806. Company insiders own 0.20% of the company’s stock.

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.