Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,247 shares of the pharmaceutical company’s stock after buying an additional 21,104 shares during the quarter. Hsbc Holdings PLC owned 0.27% of Vertex Pharmaceuticals worth $335,813,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VRTX. Brighton Jones LLC grew its stake in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $228,000. NewEdge Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 9.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after buying an additional 986 shares during the last quarter. ICW Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after buying an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after buying an additional 1,518 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Duncan McKechnie sold 1,541 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. The trade was a 12.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. The trade was a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,719 shares of company stock worth $4,174,147 in the last three months. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VRTX. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Morgan Stanley assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 1st. They issued an “overweight” rating and a $665.00 target price on the stock. Barclays increased their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. UBS Group boosted their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, TD Cowen upped their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.52.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $546.12 on Monday. Vertex Pharmaceuticals Incorporated has a 52 week low of $374.17 and a 52 week high of $560.25. The stock has a market cap of $138.61 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.37 and a beta of 0.32. The company has a 50-day moving average price of $509.50 and a two-hundred day moving average price of $471.33.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $4.52 EPS. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.88 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

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.