Keynote Financial Services LLC Makes New $498,000 Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Keynote Financial Services LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,070 shares of the pharmaceutical company’s stock, valued at approximately $498,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning grew its holdings in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares during the last quarter. Blue Trust Inc. increased its position in Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after buying an additional 1,248 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $74,213,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $21,008,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Vertex Pharmaceuticals by 8.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 386,648 shares of the pharmaceutical company’s stock worth $161,623,000 after acquiring an additional 28,747 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred 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 owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VRTX has been the topic of several analyst reports. TD Cowen raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday. Scotiabank increased their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Truist Financial reissued a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Trading Up 1.8 %

Shares of Vertex Pharmaceuticals stock opened at $502.45 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $474.81 and a 200-day simple moving average of $466.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $3.67 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share 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.