Princeton Global Asset Management LLC Acquires 122 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Princeton Global Asset Management LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,206 shares of the pharmaceutical company’s stock after buying an additional 122 shares during the period. Vertex Pharmaceuticals accounts for 1.4% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Princeton Global Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $7,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after buying an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after acquiring an additional 394,338 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after purchasing an additional 2,176,218 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 21.2% during the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Vertex Pharmaceuticals by 10.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after purchasing an additional 244,336 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on VRTX. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Royal Bank of Canada cut their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $492.50.

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’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 sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,710 shares of company stock valued at $3,298,206. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 1.0 %

Shares of VRTX opened at $471.12 on Friday. The stock has a market capitalization of $121.60 billion, a PE ratio of -232.08 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company’s 50-day simple moving average is $474.53 and its 200-day simple moving average is $464.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.53 EPS. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current fiscal year.

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.