Greenwood Capital Associates LLC Acquires 2,514 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Greenwood Capital Associates LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,812 shares of the pharmaceutical company’s stock after acquiring an additional 2,514 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Vertex Pharmaceuticals were worth $5,018,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VRTX. Norges Bank bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $1,593,974,000. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares during the period. Assenagon Asset Management S.A. grew its position in Vertex Pharmaceuticals by 214.6% during the third quarter. Assenagon Asset Management S.A. now owns 763,703 shares of the pharmaceutical company’s stock worth $299,097,000 after buying an additional 520,949 shares in the last quarter. Vanguard Group Inc. increased its stake in Vertex Pharmaceuticals by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock worth $10,673,126,000 after acquiring an additional 482,616 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Vertex Pharmaceuticals by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock valued at $1,949,228,000 after acquiring an additional 424,808 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.0%

VRTX stock opened at $462.90 on Friday. The firm has a 50-day moving average price of $435.77 and a 200-day moving average price of $426.54. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock has a market capitalization of $117.45 billion, a P/E ratio of 32.64 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company earned $4.38 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,202,600. This represents a 27.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares in the company, valued at $10,792,479.20. This represents a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 151,073 shares of company stock valued at $67,326,816 over the last quarter. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VRTX shares. Royal Bank Of Canada reduced their target price on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI dropped their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. Citigroup upped their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $498.42.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.