NewEdge Advisors LLC Has $6.39 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NewEdge Advisors LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,632 shares of the pharmaceutical company’s stock after buying an additional 709 shares during the period. NewEdge Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $6,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Capital World Investors boosted its stake in shares of Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after acquiring an additional 3,824,103 shares during the period. Capital Research Global Investors lifted its holdings in Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares during the last quarter. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 21.2% during the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after purchasing an additional 837,461 shares during the period. Swedbank AB acquired a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $277,317,000. Finally, AMF Tjanstepension AB bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at about $257,655,000. 90.96% of the stock is owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $487.34, for a total value of $1,111,135.20. Following the completion of the transaction, the chief marketing officer now directly owns 27,819 shares in the company, valued at $13,557,311.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction 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 sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $487.34, for a total value of $1,111,135.20. Following the transaction, the chief marketing officer now directly owns 27,819 shares in the company, valued at $13,557,311.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,767 shares of company stock worth $15,768,284. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $469.76 on Wednesday. The stock has a market cap of $121.25 billion, a PE ratio of 30.48 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.85 and a 12-month high of $510.64. The business’s 50-day moving average price is $478.89 and its two-hundred day moving average price is $454.97.

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

Analysts Set New Price Targets

VRTX has been the subject of several research analyst reports. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a report on Tuesday. Argus boosted their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Piper Sandler increased their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $431.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, September 19th. Finally, StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $487.23.

About Vertex Pharmaceuticals

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.