State Street Corp Acquires 141,320 Shares of Vertex Pharmaceuticals Incorporated $VRTX

State Street Corp increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,871,459 shares of the pharmaceutical company’s stock after buying an additional 141,320 shares during the period. State Street Corp’s holdings in Vertex Pharmaceuticals were worth $5,896,910,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Community Financial Services Group LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $26,000. Meeder Asset Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $26,000. Elevation Wealth Partners LLC raised its position in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. Pingora Partners LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $32,000. Finally, City Holding Co. lifted its stake in shares of Vertex Pharmaceuticals by 128.1% in the second quarter. City Holding Co. now owns 73 shares of the pharmaceutical company’s stock worth $36,000 after acquiring an additional 41 shares during the period. 90.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on VRTX shares. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. TD Cowen boosted their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. UBS Group lifted their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $573.83.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Duncan McKechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the transaction, the chief marketing officer owned 15,337 shares in the company, valued at $7,400,102.50. This represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,637 shares of company stock valued at $1,874,834 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 2.3%

VRTX traded up $11.55 during trading on Tuesday, hitting $522.27. The company’s stock had a trading volume of 573,664 shares, compared to its average volume of 1,393,412. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $560.25. The stock’s fifty day moving average price is $512.42 and its 200-day moving average price is $474.33. The firm has a market capitalization of $132.55 billion, a P/E ratio of 30.42, a PEG ratio of 2.23 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $4.52 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.69 EPS for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company combines research in human genetics with drug discovery and development.

Vertex is best known for its cystic fibrosis portfolio, which includes CFTR modulator therapies such as Kalydeco, Orkambi, Symdeko and the combination marketed as Trikafta in the United States and Kaftrio in other markets.