Claro Advisors LLC Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Claro Advisors LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,425 shares of the pharmaceutical company’s stock after purchasing an additional 471 shares during the quarter. Claro Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,128,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Capital World Investors raised its position in Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after acquiring an additional 3,761,414 shares in the last quarter. Capital Research Global Investors raised its position in Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after acquiring an additional 2,176,218 shares in the last quarter. Swedbank AB purchased a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $277,317,000. AMF Tjanstepension AB purchased a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $257,655,000. Finally, International Assets Investment Management LLC increased its position in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after buying an additional 324,188 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $465.70 on Monday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $519.88. The business’s fifty day simple moving average is $476.39 and its 200-day simple moving average is $472.09. The firm has a market cap of $119.93 billion, a PE ratio of -234.02 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating 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 business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VRTX shares. Piper Sandler increased 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. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $499.12.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction 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 in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The transaction 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 business’s 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 completion of the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.