Chartwell Investment Partners LLC Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Chartwell Investment Partners LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,305 shares of the pharmaceutical company’s stock after buying an additional 611 shares during the period. Chartwell Investment Partners LLC’s holdings in Vertex Pharmaceuticals were worth $5,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in shares of Vertex Pharmaceuticals by 13.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 19,947 shares of the pharmaceutical company’s stock worth $4,746,000 after buying an additional 2,393 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in Vertex Pharmaceuticals by 54.5% during the second quarter. First Citizens Bank & Trust Co. now owns 13,336 shares of the pharmaceutical company’s stock worth $3,872,000 after acquiring an additional 4,706 shares during the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 383.7% in the 2nd quarter. Chesley Taft & Associates LLC now owns 9,757 shares of the pharmaceutical company’s stock worth $2,833,000 after purchasing an additional 7,740 shares during the period. DNB Asset Management AS lifted its stake in shares of Vertex Pharmaceuticals by 19.5% in the 2nd quarter. DNB Asset Management AS now owns 32,160 shares of the pharmaceutical company’s stock valued at $9,336,000 after purchasing an additional 5,256 shares in the last quarter. Finally, AlphaCrest Capital Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 32.3% during the 1st quarter. AlphaCrest Capital Management LLC now owns 3,762 shares of the pharmaceutical company’s stock worth $895,000 after purchasing an additional 918 shares during the period. Institutional investors own 93.42% of the company’s stock.

A number of research analysts have weighed in on VRTX shares. Piper Sandler lifted their price target on shares of Vertex Pharmaceuticals from $302.00 to $327.00 and gave the company an “overweight” rating in a research report on Friday. Goldman Sachs Group upped their price target on shares of Vertex Pharmaceuticals from $290.00 to $330.00 and gave the stock a “conviction-buy” rating in a research report on Thursday, July 2nd. BidaskClub lowered Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Cfra upped their target price on Vertex Pharmaceuticals from $286.00 to $297.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, JMP Securities increased their target price on Vertex Pharmaceuticals from $255.00 to $285.00 and gave the company a “market outperform” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $295.81.

In related news, EVP Amit Sachdev sold 13,356 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $270.01, for a total transaction of $3,606,253.56. Following the completion of the sale, the executive vice president now owns 67,603 shares of the company’s stock, valued at approximately $18,253,486.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jeffrey M. Leiden sold 94,372 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $269.94, for a total transaction of $25,474,777.68. Following the sale, the chairman now owns 76,707 shares in the company, valued at approximately $20,706,287.58. The disclosure for this sale can be found here. Insiders have sold 298,911 shares of company stock worth $82,787,831 over the last three months. 0.70% of the stock is owned by corporate insiders.

NASDAQ:VRTX opened at $272.00 on Friday. The company has a market cap of $70.52 billion, a PE ratio of 34.34, a P/E/G ratio of 1.31 and a beta of 0.94. The business’s 50 day moving average is $287.06 and its two-hundred day moving average is $257.51. The company has a quick ratio of 3.42, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. Vertex Pharmaceuticals Incorporated has a 52 week low of $165.23 and a 52 week high of $306.08.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, July 30th. The pharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.86. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.41 billion. Vertex Pharmaceuticals had a return on equity of 30.45% and a net margin of 38.51%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 7.6 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated 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.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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