Atlantic Union Bankshares Corp Raises Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atlantic Union Bankshares Corp boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% during the third quarter, Holdings Channel.com reports. The firm owned 7,558 shares of the pharmaceutical company’s stock after buying an additional 329 shares during the period. Atlantic Union Bankshares Corp’s holdings in Vertex Pharmaceuticals were worth $3,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Vertex Pharmaceuticals by 5.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after acquiring an additional 159,693 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after purchasing an additional 29,104 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,626,347 shares of the pharmaceutical company’s stock worth $756,381,000 after purchasing an additional 20,361 shares during the last quarter. Finally, Edgewood Management LLC increased its holdings in Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after purchasing an additional 1,526,983 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $464.56 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market cap of $119.64 billion, a price-to-earnings ratio of -233.45 and a beta of 0.39. The business has a 50-day simple moving average of $472.81 and a two-hundred day simple moving average of $474.22. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $346.29 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Royal Bank of Canada upped their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $504.38.

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.