Several institutional investors have adjusted their positions in Vertex Pharmaceuticals. Brookstone Capital Management increased their stake by 11.1%, owning now 2,368 shares valued at $990,000. Creative Planning raised their holdings by 5.3%, totaling 79,117 shares worth $37,084,000. Blue Trust Inc. boosted their stake by 640%, now holding 1,443 shares valued at $676,000. Manning & Napier Advisors LLC and Susquehanna Fundamental Investments LLC also acquired significant stakes in the company. Institutional investors own 90.96% of the stock.
Analysts Set New Price Targets
Recent reports show various price target adjustments for Vertex Pharmaceuticals (VRTX). Royal Bank of Canada lowered their target from $431 to $425. In contrast, TD Cowen raised theirs from $450 to $500. Barclays shifted from an “overweight” to an “equal weight” stance while increasing their target from $472 to $509. Cantor Fitzgerald maintained an “overweight” rating at $480, and Truist Financial raised their target from $508 to $550. Overall, the stock has 3 sell ratings, 10 hold ratings, and 17 buy ratings, with a consensus target price of $492.92.
Vertex Pharmaceuticals Price Performance
VRTX shares opened at $483.00. The company has a market cap of $124.66 billion, a PE ratio of -237.93, and a beta of 0.40. Over the past year, the stock has ranged from $341.90 to $510.64. Its latest earnings report showed a loss of ($12.83) per share, falling short of expectations, with revenues at $2.65 billion, slightly below estimates. Analysts predict a fiscal EPS of -2.11 for the current year.
Insider Trading
Director Bruce Sachs sold 5,295 shares for $2,689,860 on August 1. Following this, he still owns 40,000 shares worth about $20.32 million. Chairman Jeffrey Leiden sold 3,784 shares for $1,888,216 on August 30, reducing his ownership to 9,994 shares valued at $4.99 million. In total, insiders sold 14,285 shares worth $7,101,755 last quarter, and they own 0.20% of the company.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals, a biotech company, develops therapies for cystic fibrosis (CF). Their products include TRIKAFTA/KAFTRIO, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO, which treat various forms of CF.
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