Vertex Pharmaceuticals Incorporated $VRTX Stock Position Lifted by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Vertex Pharmaceuticals position by 2.2% in the third quarter, adding 6,277 shares for a total holding of 294,124 shares valued at approximately $153.8 million.
• Vertex shares opened at $558.88, near their 52-week high of $563.80, with a market capitalization of $141.8 billion. Institutional investors and hedge funds collectively own 90.96% of the stock.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year, though earnings of $4.73 per share narrowly missed estimates. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $579.81.

ProShare Advisors LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,124 shares of the pharmaceutical company's stock after buying an additional 6,277 shares during the period. ProShare Advisors LLC owned approximately 0.12% of Vertex Pharmaceuticals worth $153,771,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Bangor Savings Bank lifted its stake in Vertex Pharmaceuticals by 0.4% in the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company's stock worth $2,220,000 after acquiring an additional 20 shares during the last quarter. Trust Point Inc. increased its position in shares of Vertex Pharmaceuticals by 2.7% in the 2nd quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company's stock worth $394,000 after purchasing an additional 21 shares during the last quarter. Integrated Advisors Network LLC increased its stake in shares of Vertex Pharmaceuticals by 1.4% in the third quarter. Integrated Advisors Network LLC now owns 1,625 shares of the pharmaceutical company's stock valued at $850,000 after purchasing an additional 22 shares during the period. Glenview Trust Co grew its stake in shares of Vertex Pharmaceuticals by 0.3% in the 3rd quarter. Glenview Trust Co now owns 6,773 shares of the pharmaceutical company's stock worth $3,541,000 after purchasing an additional 22 shares during the last quarter. Finally, Cannell & Spears LLC lifted its stake in Vertex Pharmaceuticals by 1.2% in the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company's stock worth $885,000 after acquiring an additional 23 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 3.5%

Shares of VRTX opened at $558.88 on Friday. The business's 50 day moving average is $523.21 and its two-hundred day moving average is $479.47. Vertex Pharmaceuticals Incorporated has a 52-week low of $403.16 and a 52-week high of $563.80. The firm has a market cap of $141.84 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.68 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm's revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.52 EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VRTX. Truist Financial boosted their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Evercore lifted their price objective on Vertex Pharmaceuticals from $535.00 to $600.00 and gave the stock an "outperform" rating in a report on Wednesday, September 2nd. Rothschild & Co Redburn lifted their price target on Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Barclays raised their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $579.81.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.

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