Texas Permanent School Fund Corp Sells 10,473 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Texas Permanent School Fund Corp reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,815 shares of the pharmaceutical company’s stock after selling 10,473 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Vertex Pharmaceuticals were worth $20,068,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth $27,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $31,000. ICA Group Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Finally, Founders Capital Management lifted its stake in shares of 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 last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler increased their price target 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. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $485.91.

Vertex Pharmaceuticals Trading Up 0.6 %

Vertex Pharmaceuticals stock traded up $2.77 during mid-day trading on Monday, hitting $470.77. 39,537 shares of the stock were exchanged, compared to its average volume of 1,198,710. The firm’s fifty day simple moving average is $483.31 and its two-hundred day simple moving average is $448.78. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The stock has a market capitalization of $121.51 billion, a price-to-earnings ratio of 30.37 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company posted $3.53 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Edward Morrow Atkinson III sold 7,288 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $3,483,664.00. Following the transaction, the executive vice president now owns 15,972 shares in the company, valued at $7,634,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the sale, the chief marketing officer now owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,615 shares of company stock worth $21,417,310. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals 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.