Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Camden National Bank

Camden National Bank trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.9% in the third quarter, Holdings Channel.com reports. The firm owned 21,124 shares of the pharmaceutical company’s stock after selling 188 shares during the period. Camden National Bank’s holdings in Vertex Pharmaceuticals were worth $9,824,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VRTX. Whalen Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $662,000. Creative Planning boosted its stake in Vertex Pharmaceuticals by 5.3% during the 2nd 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 period. Mizuho Securities USA LLC lifted its stake in shares of Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after acquiring an additional 57,497 shares during the period. Blue Trust Inc. lifted its stake in shares of Vertex Pharmaceuticals by 640.0% in the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after acquiring an additional 1,248 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $74,213,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,445 shares of company stock valued at $2,218,394 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $450.97 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $346.29 and a 1-year high of $519.88. The company’s fifty day simple moving average is $474.11 and its 200 day simple moving average is $472.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals 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.