Comerica Bank Purchases Shares of 17,823 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
Comerica Bank purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 17,823 shares of the pharmaceutical company’s stock, valued at approximately $6,272,000.
Several other institutional investors also recently bought and sold shares of VRTX. Paradigm Financial Partners LLC grew its stake in shares of Vertex Pharmaceuticals by 2.1% during the 2nd quarter. Paradigm Financial Partners LLC now owns 1,446 shares of the pharmaceutical company’s stock valued at $509,000 after buying an additional 30 shares during the period. Grandfield & Dodd LLC grew its stake in shares of Vertex Pharmaceuticals by 0.3% during the 2nd quarter. Grandfield & Dodd LLC now owns 9,018 shares of the pharmaceutical company’s stock valued at $3,174,000 after buying an additional 30 shares during the period. West Family Investments Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. West Family Investments Inc. now owns 2,494 shares of the pharmaceutical company’s stock valued at $878,000 after buying an additional 30 shares during the period. Davidson Capital Management Inc. grew its stake in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Davidson Capital Management Inc. now owns 4,993 shares of the pharmaceutical company’s stock valued at $1,757,000 after buying an additional 31 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of Vertex Pharmaceuticals by 4.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 720 shares of the pharmaceutical company’s stock valued at $253,000 after buying an additional 32 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
VRTX has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $380.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday. StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 21st. Truist Financial reaffirmed a “buy” rating and set a $456.00 price target on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 4th. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $347.00 to $379.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $359.00 to $364.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 8th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $378.52.
Get Our Latest Report on Vertex Pharmaceuticals
Insider Activity
In other news, EVP Jonathan Biller sold 610 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $346.76, for a total value of $211,523.60. Following the completion of the transaction, the executive vice president now directly owns 10,569 shares in the company, valued at $3,664,906.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Jonathan Biller sold 610 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $346.76, for a total value of $211,523.60. Following the completion of the transaction, the executive vice president now directly owns 10,569 shares in the company, valued at $3,664,906.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce I. Sachs sold 11,250 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $385.00, for a total transaction of $4,331,250.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $15,400,000. The disclosure for this sale can be found here. Insiders sold 47,911 shares of company stock worth $17,624,025 over the last three months. Corporate insiders own 0.40% of the company’s stock.
Vertex Pharmaceuticals Price Performance
NASDAQ VRTX opened at $410.68 on Monday. Vertex Pharmaceuticals Incorporated has a 52 week low of $282.21 and a 52 week high of $411.60. The company has a current ratio of 4.08, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $105.82 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.66 and a beta of 0.42. The company has a 50-day moving average price of $364.38 and a two-hundred day moving average price of $353.67.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its earnings results on Monday, November 6th. The pharmaceutical company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.53 by $0.55. Vertex Pharmaceuticals had a net margin of 35.94% and a return on equity of 22.79%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $3.62 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 13.73 EPS for the current year.
Vertex Pharmaceuticals Company Profile (Free Report)
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.
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