Moors & Cabot Inc. Sells 161 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Moors & Cabot Inc. trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,578 shares of the pharmaceutical company’s stock after selling 161 shares during the quarter. Moors & Cabot Inc.’s holdings in Vertex Pharmaceuticals were worth $1,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. EagleClaw Capital Managment LLC boosted its position in shares of Vertex Pharmaceuticals by 2.7% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 7,625 shares of the pharmaceutical company’s stock valued at $3,546,000 after acquiring an additional 200 shares during the last quarter. Grandfield & Dodd LLC lifted its position in Vertex Pharmaceuticals by 21.9% in the third quarter. Grandfield & Dodd LLC now owns 14,144 shares of the pharmaceutical company’s stock worth $6,578,000 after buying an additional 2,538 shares during the last quarter. Portfolio Design Labs LLC lifted its position in Vertex Pharmaceuticals by 123.0% in the third quarter. Portfolio Design Labs LLC now owns 4,579 shares of the pharmaceutical company’s stock worth $2,130,000 after buying an additional 2,526 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Vertex Pharmaceuticals by 14.5% in the third quarter. Advisors Asset Management Inc. now owns 26,467 shares of the pharmaceutical company’s stock worth $12,309,000 after purchasing an additional 3,359 shares during the period. Finally, Howe & Rusling Inc. increased its stake in Vertex Pharmaceuticals by 3.6% in the third quarter. Howe & Rusling Inc. now owns 9,092 shares of the pharmaceutical company’s stock worth $4,229,000 after purchasing an additional 315 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s 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 transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock worth $2,218,394 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Scotiabank increased their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Guggenheim increased their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial restated a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $499.12.

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of VRTX stock opened at $451.23 on Thursday. The stock has a 50 day moving average of $475.38 and a 200 day moving average of $472.74. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $346.29 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.67 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal 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.