Merlin Capital LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 7.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,813 shares of the pharmaceutical company's stock after selling 221 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 1.6% of Merlin Capital LLC's investment portfolio, making the stock its 15th biggest position. Merlin Capital LLC's holdings in Vertex Pharmaceuticals were worth $793,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in VRTX. Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $588,506,000. Wellington Management Group LLP lifted its holdings in shares of Vertex Pharmaceuticals by 23.6% during the 1st quarter. Wellington Management Group LLP now owns 8,053,710 shares of the pharmaceutical company's stock valued at $2,101,776,000 after buying an additional 1,535,255 shares during the period. Capital World Investors lifted its holdings in shares of Vertex Pharmaceuticals by 9.9% during the 1st quarter. Capital World Investors now owns 12,666,130 shares of the pharmaceutical company's stock valued at $3,305,417,000 after buying an additional 1,145,275 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $167,910,000. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 25,712.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 591,358 shares of the pharmaceutical company's stock valued at $2,266,000 after buying an additional 589,067 shares during the period. 91.33% of the stock is currently owned by hedge funds and other institutional investors.
Get Vertex Pharmaceuticals alerts:Wall Street Analysts Forecast Growth
VRTX has been the topic of a number of recent research reports. Maxim Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $325.00 target price on the stock in a report on Wednesday, June 1st. Cantor Fitzgerald initiated coverage on Vertex Pharmaceuticals in a report on Tuesday, July 12th. They issued an "overweight" rating and a $365.00 target price on the stock. HC Wainwright raised their target price on Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 5th. Barclays raised their target price on Vertex Pharmaceuticals from $291.00 to $307.00 and gave the stock an "overweight" rating in a report on Friday, August 5th. Finally, Piper Sandler raised their target price on Vertex Pharmaceuticals from $256.00 to $288.00 and gave the stock a "neutral" rating in a report on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $291.65.
Insider Buying and Selling at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 621 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $278.77, for a total transaction of $173,116.17. Following the completion of the transaction, the director now owns 5,282 shares in the company, valued at $1,472,463.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP David Altshuler sold 17,865 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $288.65, for a total transaction of $5,156,732.25. Following the completion of the sale, the executive vice president now owns 36,077 shares of the company's stock, valued at $10,413,626.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 621 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $278.77, for a total transaction of $173,116.17. Following the sale, the director now directly owns 5,282 shares of the company's stock, valued at approximately $1,472,463.14. The disclosure for this sale can be found here. Insiders sold 196,831 shares of company stock worth $56,532,979 over the last 90 days. Company insiders own 0.40% of the company's stock.Vertex Pharmaceuticals Trading Up 2.6 %
VRTX traded up $7.49 on Wednesday, hitting $292.23. The company had a trading volume of 49,445 shares, compared to its average volume of 1,267,073. The company has a market cap of $74.95 billion, a PE ratio of 23.52, a PEG ratio of 1.97 and a beta of 0.45. Vertex Pharmaceuticals Incorporated has a 12-month low of $176.36 and a 12-month high of $305.95. The company has a quick ratio of 4.36, a current ratio of 4.50 and a debt-to-equity ratio of 0.04. The business's fifty day simple moving average is $286.74 and its 200 day simple moving average is $274.82.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The pharmaceutical company reported $3.25 EPS for the quarter, topping the consensus estimate of $3.05 by $0.20. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. Vertex Pharmaceuticals had a return on equity of 31.22% and a net margin of 38.26%. The firm's revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $2.80 earnings per share. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 12.56 EPS for the current year.
Vertex Pharmaceuticals Profile
(Get Rating)
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.
Further Reading
- Get a free copy of the StockNews.com research report on Vertex Pharmaceuticals (VRTX)
- Can United Natural Foods Fight Both Inflation and the Fed?
- Mullen Automotive Is Ready To Get In Gear
- Cracker Barrel: A Tasty Treat Or Bad Apple?
- Defensive Stocks For A Volatile Market
- SunPower Is Ready To Power Up Triple-Digit Earnings Gains
Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating).
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.