Coastline Trust Co Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Coastline Trust Co raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,579 shares of the pharmaceutical company’s stock after purchasing an additional 760 shares during the quarter. Coastline Trust Co’s holdings in Vertex Pharmaceuticals were worth $3,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Empirical Finance LLC grew its position in shares of Vertex Pharmaceuticals by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 8,916 shares of the pharmaceutical company’s stock valued at $4,147,000 after purchasing an additional 190 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Vertex Pharmaceuticals by 5.9% in the 3rd quarter. CIBC Asset Management Inc now owns 80,102 shares of the pharmaceutical company’s stock valued at $37,254,000 after acquiring an additional 4,432 shares in the last quarter. Broderick Brian C boosted its position in shares of Vertex Pharmaceuticals by 51.1% during the 3rd quarter. Broderick Brian C now owns 11,460 shares of the pharmaceutical company’s stock valued at $5,330,000 after acquiring an additional 3,876 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 62.7% during the third quarter. OneDigital Investment Advisors LLC now owns 2,817 shares of the pharmaceutical company’s stock worth $1,310,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Vertex Pharmaceuticals by 8.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,681 shares of the pharmaceutical company’s stock valued at $3,572,000 after purchasing an additional 566 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $465.70 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $519.88. The stock has a market cap of $119.93 billion, a PE ratio of -234.02 and a beta of 0.39. The company’s fifty day moving average price is $476.39 and its 200-day moving average price is $471.06. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating 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 business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the firm earned $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s 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 transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on VRTX shares. HC Wainwright restated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. UBS Group lifted their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial restated a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Oppenheimer reduced their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $499.12.

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.