Hemenway Trust Co LLC Has $18.66 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hemenway Trust Co LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 41.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,119 shares of the pharmaceutical company’s stock after purchasing an additional 11,682 shares during the period. Vertex Pharmaceuticals makes up 1.5% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 28th biggest holding. Hemenway Trust Co LLC’s holdings in Vertex Pharmaceuticals were worth $18,659,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth $25,000. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $31,000. Finally, Founders Capital Management grew its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 0.2 %

NASDAQ VRTX traded up $1.14 during trading on Tuesday, reaching $502.86. 43,408 shares of the stock traded hands, compared to its average volume of 1,167,223. The stock’s 50-day moving average price is $475.52 and its 200 day moving average price is $469.66. The firm has a market cap of $129.50 billion, a price-to-earnings ratio of -252.12 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $519.88. The company has a quick ratio of 2.26, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Guggenheim increased their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer cut their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Finally, Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $495.96.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.