Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,737 shares of the pharmaceutical company’s stock after selling 3,159 shares during the period. Mizuho Securities USA LLC’s holdings in Vertex Pharmaceuticals were worth $7,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. DE Burlo Group Inc. grew its holdings in Vertex Pharmaceuticals by 1.3% during the 3rd quarter. DE Burlo Group Inc. now owns 49,195 shares of the pharmaceutical company’s stock valued at $22,880,000 after buying an additional 630 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after buying an additional 159,693 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $9,178,000. Trustmark National Bank Trust Department lifted its stake in shares of Vertex Pharmaceuticals by 5.9% during the 3rd quarter. Trustmark National Bank Trust Department now owns 6,466 shares of the pharmaceutical company’s stock worth $3,007,000 after purchasing an additional 358 shares during the period. Finally, Cornerstone Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 6.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 13,000 shares of the pharmaceutical company’s stock worth $6,046,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRTX. Truist Financial reissued 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. 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, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Piper Sandler increased their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Oppenheimer cut their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $499.12.

Vertex Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ:VRTX opened at $451.23 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The stock’s 50 day moving average price is $475.38 and its 200 day moving average price is $472.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

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

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,445 shares of company stock worth $2,218,394. 0.20% of the stock is owned by insiders.

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.