Baader Bank Aktiengesellschaft Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Baader Bank Aktiengesellschaft trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 61.2% during the 1st quarter, Holdings Channel reports. The firm owned 5,280 shares of the pharmaceutical company’s stock after selling 8,324 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Vertex Pharmaceuticals were worth $2,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Motiv8 Investments LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $26,000. Swiss RE Ltd. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $29,000. IMG Wealth Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of recent research reports. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Sanford C. Bernstein dropped their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Canaccord Genuity Group reduced their price target on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Barclays lifted their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Truist Financial increased their price objective on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $559.61.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the completion of the sale, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares of the company’s stock, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 18,874 shares of company stock worth $8,707,966. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.1%

Shares of VRTX stock opened at $480.50 on Tuesday. The stock has a market cap of $121.95 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 2.11 and a beta of 0.29. The business’s fifty day moving average is $463.45 and its 200 day moving average is $459.19. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm earned $4.06 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current fiscal year.

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.