Bangor Savings Bank Has $2.66 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bangor Savings Bank lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,724 shares of the pharmaceutical company’s stock after selling 444 shares during the period. Bangor Savings Bank’s holdings in Vertex Pharmaceuticals were worth $2,662,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ boosted its stake in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. lifted its holdings in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after acquiring an additional 22 shares in the last quarter. RFP Financial Group LLC grew its holdings in shares of Vertex Pharmaceuticals by 17.0% during the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after purchasing an additional 23 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in Vertex Pharmaceuticals by 6.0% during the 2nd quarter. Quent Capital LLC now owns 423 shares of the pharmaceutical company’s stock worth $198,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,767 shares of company stock worth $15,768,284 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on VRTX shares. Argus lifted their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Guggenheim boosted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $486.95.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $448.60 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The firm has a market cap of $115.76 billion, a P/E ratio of 29.11 and a beta of 0.40. The business’s 50 day moving average is $476.75 and its 200-day moving average is $455.91. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) 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 the consensus estimate of $2.66 billion. During the same quarter last year, the business earned $3.53 EPS. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

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.