Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 176.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,312 shares of the pharmaceutical company’s stock after buying an additional 1,476 shares during the period. Farther Finance Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,090,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after buying an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after purchasing an additional 394,338 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Vertex Pharmaceuticals by 61.0% during the first 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 period. Jennison Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 21.2% during the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares in the last quarter. Finally, Norges Bank acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $1,237,877,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $495.89 on Monday. 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 cap of $127.97 billion, a PE ratio of 32.18 and a beta of 0.39. The stock has a 50-day moving average of $482.85 and a 200-day moving average of $446.83. Vertex Pharmaceuticals Incorporated has a 52-week low of $340.83 and a 52-week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VRTX shares. TD Cowen upped their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $485.91.

Insiders Place Their Bets

In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the transaction, the executive vice president now directly owns 15,972 shares in the company, valued at approximately $7,634,616. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the transaction, the executive vice president now directly owns 15,972 shares in the company, valued at $7,634,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’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 value 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 disclosure for this sale can be found here. Insiders have sold a total of 39,185 shares of company stock valued at $19,206,094 in the last three months. Company insiders own 0.20% of the company’s stock.

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.