Cornerstone Planning Group LLC Sells 21 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cornerstone Planning Group LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.6% in the 3rd quarter, Holdings Channel reports. The firm owned 58 shares of the pharmaceutical company’s stock after selling 21 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Vertex Pharmaceuticals were worth $27,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VRTX. Creative Planning boosted its stake in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares during the period. Blue Trust Inc. boosted its position in Vertex Pharmaceuticals by 640.0% in the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after buying an additional 1,248 shares during the period. Manning & Napier Advisors LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $74,213,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $21,008,000. Finally, Keynote Financial Services LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $498,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday. UBS Group increased their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Finally, Guggenheim lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $495.96.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $489.00 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The company’s fifty day moving average price is $475.81 and its 200-day moving average price is $470.31. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $519.88. The firm has a market capitalization of $125.93 billion, a PE ratio of -246.23 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $3.67 earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

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

About Vertex Pharmaceuticals

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.