Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Lifted by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,161 shares of the pharmaceutical company’s stock after acquiring an additional 316 shares during the period. Banque Pictet & Cie SA’s holdings in Vertex Pharmaceuticals were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VRTX. Vident Investment Advisory LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $935,000. 180 Wealth Advisors LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $203,000. FDx Advisors Inc. boosted its holdings in Vertex Pharmaceuticals by 33.8% during the second quarter. FDx Advisors Inc. now owns 4,621 shares of the pharmaceutical company’s stock worth $1,342,000 after buying an additional 1,168 shares in the last quarter. Granite Investment Advisors LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $219,000. Finally, Duncker Streett & Co. Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

A number of analysts recently weighed in on VRTX shares. SVB Leerink reduced their target price on shares of Vertex Pharmaceuticals from $267.00 to $257.00 and set a “market perform” rating for the company in a report on Friday, October 30th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, September 18th. Morgan Stanley decreased their price objective on shares of Vertex Pharmaceuticals from $281.00 to $249.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Monday, October 26th. Finally, Truist decreased their price objective on shares of Vertex Pharmaceuticals from $330.00 to $305.00 in a research note on Thursday, October 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $290.59.

In related news, EVP Stuart A. Arbuckle sold 1,553 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $211.92, for a total value of $329,111.76. Following the transaction, the executive vice president now owns 36,732 shares in the company, valued at approximately $7,784,245.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce I. Sachs bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average price of $217.36 per share, for a total transaction of $3,260,400.00. Following the acquisition, the director now directly owns 18,035 shares in the company, valued at $3,920,087.60. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

Vertex Pharmaceuticals stock opened at $215.21 on Friday. The company has a market capitalization of $55.96 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.25 and a beta of 0.79. The firm’s fifty day simple moving average is $230.24 and its 200-day simple moving average is $265.35. The company has a current ratio of 3.72, a quick ratio of 3.60 and a debt-to-equity ratio of 0.07. Vertex Pharmaceuticals Incorporated has a 1-year low of $197.47 and a 1-year high of $306.08.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, October 29th. The pharmaceutical company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.68. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.48 billion. Vertex Pharmaceuticals had a net margin of 38.51% and a return on equity of 28.55%. Vertex Pharmaceuticals’s revenue for the quarter was up 61.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 8.5 earnings per share for the current year.

Vertex Pharmaceuticals 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; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene.

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

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