Hsbc Holdings PLC Invests $335.81 Million in Vertex Pharmaceuticals Incorporated $VRTX

Hsbc Holdings PLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 676,247 shares of the pharmaceutical company’s stock, valued at approximately $335,813,000. Hsbc Holdings PLC owned approximately 0.27% of Vertex Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after buying an additional 579 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $228,000. NewEdge Advisors LLC grew its position in Vertex Pharmaceuticals by 9.0% during the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after acquiring an additional 986 shares during the last quarter. ICW Investment Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after acquiring an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after acquiring an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the completion of the transaction, the chief marketing officer owned 16,953 shares in the company, valued at $7,628,850. The trade was a 19.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 over the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $552.85 on Wednesday. The company has a market cap of $140.31 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 2.27 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $555.69. The business’s 50-day moving average is $496.59 and its two-hundred day moving average is $467.04.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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). The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRTX. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. UBS Group lifted their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Truist Financial upped their price target on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $563.50.

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.