Lindbrook Capital LLC Increases Stake in Vertex Pharmaceuticals

Lindbrook Capital LLC has increased its investment in Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) by 36.2% during the third quarter, as reported in its recent 13F filing with the SEC. Following this adjustment, Lindbrook Capital now owns 29,632 shares of Vertex Pharmaceuticals, having acquired an additional 7,872 shares during the quarter. This investment makes up about 1.2% of Lindbrook Capital's total holdings, making Vertex its 13th largest investment. As of the latest reporting period, Lindbrook Capital's holdings in Vertex Pharmaceuticals are valued at approximately $13,781,000.

In addition to Lindbrook, several other institutional investors have recently entered or modified their positions in Vertex Pharmaceuticals. For instance, Northwest Investment Counselors LLC made a new investment during the third quarter valued at $25,000. Similarly, Highline Wealth Partners LLC acquired shares worth $27,000 during the same period. Other notable transactions include GHP Investment Advisors Inc. purchasing a new stake valued at about $29,000, and Stephens Consulting LLC acquiring shares worth approximately $31,000. Founders Capital Management also increased its holdings by 50.0% during the second quarter, now owning a total of 75 shares worth $35,000. Currently, about 90.96% of Vertex Pharmaceuticals’ stock is owned by institutional investors and hedge funds.

Directors' Transactions

In the realm of insider trading, significant transactions have been reported for Vertex Pharmaceuticals. Director Sangeeta N. Bhatia sold 646 shares on August 30th, fetching an average price of $500.00 per share, resulting in a total sale value of $323,000. Following this transaction, Bhatia still holds 4,435 shares valued at around $2,217,500. This sale represents negligible change in her overall ownership of the stock. Another noteworthy transaction involved Chairman Jeffrey M. Leiden, who sold 3,784 shares on the same day at an average price of $499.00, totaling approximately $1,888,216. After the sale, Leiden retains 9,994 shares valued at about $4,987,006. Insiders collectively own 0.20% of Vertex Pharmaceuticals' stock.

Analyst Ratings and Price Targets

Vertex Pharmaceuticals has drawn attention from various analysts. Oppenheimer recently revised its price target downward from $550.00 to $540.00, maintaining an "outperform" rating. Meanwhile, Morgan Stanley raised its target from $473.00 to $476.00 while assigning the stock an "equal weight" rating. Piper Sandler also increased its price objective from $500.00 to $535.00, issuing an "overweight" rating. Conversely, Barclays downgraded shares from "overweight" to "equal weight" but raised its target price from $472.00 to $509.00. Additionally, Raymond James reaffirmed a "market perform" rating. Overall, research analysts classify Vertex Pharmaceuticals with a consensus rating of "Moderate Buy" and a target price averaging $495.96, with three analysts recommending a sell, nine advising holds, and eighteen suggesting to buy the stock.

Current Stock Performance

The stock of Vertex Pharmaceuticals opened at $516.74. It has a 50-day simple moving average of $475.40 and a 200-day simple moving average of $468.01. The company maintains a low debt-to-equity ratio of 0.01, a current ratio of 2.47, and a quick ratio of 2.26, reflecting solid financial health. Vertex Pharmaceuticals boasts a market capitalization of $133.08 billion. Over the last year, the stock has reached a low of $341.90 and a high of $519.88.

Vertex Pharmaceuticals reported its quarterly earnings on November 4th, revealing earnings of $4.38 per share, surpassing analysts' expectations of $3.61 by $0.77. The company's revenue for the quarter amounted to $2.77 billion, exceeding estimates of $2.69 billion. The revenue represented an 11.6% year-over-year increase. Analysts project that Vertex Pharmaceuticals could post -2.04 earnings per share for the current year.

Company Overview

Vertex Pharmaceuticals Incorporated is a biotechnology company that focuses on developing and commercializing therapies for cystic fibrosis (CF). The company markets therapies such as TRIKAFTA/KAFTRIO for those aged two and older with specific genetic mutations, and other CF treatments aimed at various age and mutation profiles.

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