Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by First National Bank of Hutchinson

First National Bank of Hutchinson lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,086 shares of the pharmaceutical company’s stock after selling 273 shares during the quarter. First National Bank of Hutchinson’s holdings in Vertex Pharmaceuticals were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VRTX. International Assets Investment Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 74,015.5% in the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after purchasing an additional 324,188 shares in the last quarter. McAdam LLC lifted its position in Vertex Pharmaceuticals by 4.6% during the third quarter. McAdam LLC now owns 2,636 shares of the pharmaceutical company’s stock valued at $1,226,000 after buying an additional 116 shares in the last quarter. Lake Street Private Wealth LLC grew its stake in Vertex Pharmaceuticals by 212.9% during the third quarter. Lake Street Private Wealth LLC now owns 5,185 shares of the pharmaceutical company’s stock worth $2,411,000 after buying an additional 3,528 shares during the period. Guidance Capital Inc. increased its position in shares of Vertex Pharmaceuticals by 9.6% in the third quarter. Guidance Capital Inc. now owns 1,706 shares of the pharmaceutical company’s stock worth $824,000 after acquiring an additional 150 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Vertex Pharmaceuticals by 48.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,272 shares of the pharmaceutical company’s stock valued at $592,000 after acquiring an additional 414 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. 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. Royal Bank of Canada dropped their target price on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. upped their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Truist Financial reiterated a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, UBS Group upped their target price on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $470.05 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The stock’s 50 day simple moving average is $475.60 and its 200 day simple moving average is $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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 net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business posted $3.53 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

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.