Vertex Pharmaceuticals Incorporated $VRTX Position Increased by Grandfield & Dodd LLC

Grandfield & Dodd LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,820 shares of the pharmaceutical company’s stock after buying an additional 1,533 shares during the quarter. Grandfield & Dodd LLC’s holdings in Vertex Pharmaceuticals were worth $7,762,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lee Johnson Capital Management LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $721,000. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Vertex Pharmaceuticals by 3.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after acquiring an additional 1,393 shares during the period. Bailard Inc. grew its position in shares of Vertex Pharmaceuticals by 0.5% during the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after acquiring an additional 200 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $10,059,000. Finally, Moody Lynn & Lieberson LLC lifted its position in Vertex Pharmaceuticals by 1.4% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 4,500 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president owned 42,293 shares in the company, valued at $20,088,752.07. This trade represents a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction dated 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 approximately $10,792,479.20. The trade was a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 165,105 shares of company stock valued at $73,858,523. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several recent analyst reports. Morgan Stanley set a $564.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, December 5th. UBS Group started coverage on Vertex Pharmaceuticals in a report on Tuesday, January 6th. They issued a “buy” rating and a $535.00 price objective for the company. Citigroup raised their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Barclays boosted their price target on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target on the stock in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.35.

Vertex Pharmaceuticals Trading Up 1.3%

Shares of Vertex Pharmaceuticals stock opened at $467.35 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The stock has a market cap of $118.58 billion, a PE ratio of 32.96 and a beta of 0.31. The company’s 50-day moving average price is $448.45 and its two-hundred day moving average price is $427.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm posted $4.38 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.