Greystone Financial Group LLC Acquires 222 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Greystone Financial Group LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,117 shares of the pharmaceutical company’s stock after purchasing an additional 222 shares during the quarter. Greystone Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals during the first quarter worth $27,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $31,000. Finally, Founders Capital Management grew its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $470.05 on Thursday. The company has a 50 day moving average price of $475.60 and a two-hundred day moving average price of $461.29. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business posted $3.53 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Piper Sandler increased their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and an average target price of $492.92.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,005 shares of company stock worth $5,988,066 in the last 90 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.