Hsbc Holdings PLC Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Hsbc Holdings PLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 676,247 shares of the pharmaceutical company’s stock, valued at approximately $335,813,000.

A number of other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank lifted its position in Vertex Pharmaceuticals by 0.4% during the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock valued at $2,220,000 after purchasing an additional 20 shares during the last quarter. Trust Point Inc. raised its position in shares of Vertex Pharmaceuticals by 2.7% during the 2nd quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock valued at $394,000 after buying an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after acquiring an additional 21 shares during the last quarter. Cannell & Spears LLC increased its stake in Vertex Pharmaceuticals by 1.2% during the first quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock worth $885,000 after acquiring an additional 23 shares during the last quarter. Finally, Glenview Trust Co lifted its stake in shares of Vertex Pharmaceuticals by 0.3% in the 4th quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company’s stock valued at $3,176,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ VRTX opened at $552.85 on Wednesday. The stock has a market capitalization of $140.31 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.27 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $555.69. The stock’s fifty day simple moving average is $496.59 and its two-hundred day simple moving average is $467.04.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the firm posted $4.52 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Canaccord Genuity Group increased their price target on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $563.50.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. This represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company’s stock, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock valued at $4,959,397 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.