Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.3% in the 1st quarter, Holdings Channel reports. The firm owned 5,425 shares of the pharmaceutical company’s stock after purchasing an additional 272 shares during the period. Central Pacific Bank Trust Division’s holdings in Vertex Pharmaceuticals were worth $2,630,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ABC Arbitrage SA acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $1,510,000. Highview Capital Management LLC DE increased its holdings in Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after purchasing an additional 102 shares during the last quarter. Davidson Investment Advisors increased its holdings in Vertex Pharmaceuticals by 26.0% in the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock valued at $24,630,000 after purchasing an additional 12,631 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Vertex Pharmaceuticals by 75.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock valued at $994,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in Vertex Pharmaceuticals by 32.6% in the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $447.09 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The stock has a market cap of $114.81 billion, a PE ratio of -203.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The firm has a fifty day moving average price of $470.99 and a 200 day moving average price of $461.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the firm earned $4.76 earnings per share. Vertex Pharmaceuticals’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Leerink Partners reiterated a “market perform” rating and issued a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 6th. HC Wainwright restated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $515.04.

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.