Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Trimmed by National Bank of Canada FI

National Bank of Canada FI decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,437 shares of the pharmaceutical company’s stock after selling 33,696 shares during the period. National Bank of Canada FI’s holdings in Vertex Pharmaceuticals were worth $48,272,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in VRTX. Brookstone Capital Management grew its holdings in Vertex Pharmaceuticals by 11.1% in the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after buying an additional 237 shares in the last quarter. Brevan Howard Capital Management LP grew its stake in shares of Vertex Pharmaceuticals by 216.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after purchasing an additional 3,303 shares in the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 11.3% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock valued at $10,313,000 after purchasing an additional 2,576 shares during the period. First National Bank of Mount Dora Trust Investment Services bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at about $2,763,000. Finally, Blue Trust Inc. lifted its holdings in Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.1 %

Shares of NASDAQ VRTX opened at $468.57 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a one year low of $340.83 and a one year high of $510.64. The business has a 50-day moving average price of $483.32 and a two-hundred day moving average price of $448.06. The firm has a market capitalization of $120.94 billion, a PE ratio of 30.41 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.53 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their target price on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective on the stock. Finally, Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $485.91.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at $4,987,006. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the sale, the chief marketing officer now owns 32,379 shares of the company’s stock, valued at $15,477,162. The disclosure for this sale can be found here. Insiders have sold a total of 43,615 shares of company stock worth $21,417,310 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.