Nisa Investment Advisors LLC Has $35.04 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nisa Investment Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,350 shares of the pharmaceutical company’s stock after acquiring an additional 2,221 shares during the period. Nisa Investment Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $35,044,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals in the third quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $31,000. Founders Capital Management raised its stake in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the period. Finally, ZRC Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $476.37 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market cap of $122.95 billion, a P/E ratio of -234.67 and a beta of 0.40. The company has a 50 day moving average of $475.37 and a 200 day moving average of $463.27.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 EPS. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

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 transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,005 shares of company stock valued at $5,988,066 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen boosted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler lifted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $492.92.

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.