Lindbrook Capital LLC Increases Stake in Vertex Pharmaceuticals

Lindbrook Capital LLC has raised its investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 36.2% during the third quarter, as indicated in its recent 13F filing with the SEC. The firm now owns a total of 29,632 shares of Vertex after purchasing an additional 7,872 shares during this period. This investment represents about 1.2% of Lindbrook Capital's overall holdings, positioning Vertex as its 13th largest investment. The total value of Lindbrook's holdings in Vertex Pharmaceuticals was approximately $13,781,000 at the end of the latest reporting period.

Vertex Pharmaceuticals Alerts:

• Biotech Stock Breakout: IBB Eyes Resistance with Amgen and Vertex

Other institutional investors have also been active in trading shares of Vertex Pharmaceuticals recently. For instance, Northwest Investment Counselors LLC established a new position in the company during the third quarter, investing $25,000. Similarly, Highline Wealth Partners LLC acquired shares worth $27,000 in the same quarter, while GHP Investment Advisors Inc. purchased a stake valued at about $29,000 during the second quarter. Additionally, Stephens Consulting LLC invested around $31,000, and Founders Capital Management increased its stake by 50%, now owning 75 shares valued at $35,000 after adding 25 shares. Institutional investors and hedge funds now hold approximately 90.96% of the company's stock.

Insider Activity

In recent insider transactions at Vertex Pharmaceuticals, Director Sangeeta N. Bhatia sold 646 shares on August 30th at an average price of $500, totaling $323,000. Following this sale, she retains 4,435 shares valued around $2,217,500, reflecting no change in her ownership percentage. This insider transaction was disclosed in an SEC filing. Additionally, Chairman Jeffrey M. Leiden sold 3,784 shares for $499 each, resulting in a transaction value of $1,888,216. After this sale, he possesses 9,994 shares valued at approximately $4,987,006, which also represents no percentage change in his ownership. Insiders hold about 0.20% of the company's shares.

Analyst Ratings and Price Targets

• Will the Biotech Sector Shift From Lagger to Leader?

Vertex Pharmaceuticals has caught the attention of various analysts. Oppenheimer lowered its price target from $550 to $540 and maintained an "outperform" rating on the stock. Morgan Stanley raised its price target from $473 to $476, issuing an "equal weight" rating. Meanwhile, Piper Sandler increased its price objective to $535 from $500, maintaining an "overweight" rating. Barclays downgraded Vertex from an "overweight" to an "equal weight" rating while adjusting the target price from $472 to $509. Currently, there are three research analysts who rate the stock as a sell, nine as hold, and eighteen as buy. According to MarketBeat, Vertex Pharmaceuticals holds a consensus rating of "Moderate Buy" and a target price of $495.96.

Check Out More Information on Vertex Pharmaceuticals

Performance Overview of Vertex Pharmaceuticals

• Biotech Sector Nears Breakout: Will it Outperform in Q2?

As of Friday, Vertex Pharmaceuticals’ shares opened at $516.74. The company has a 50-day simple moving average of $475.40 and a 200-day simple moving average of $468.01. Its debt-to-equity ratio stands at 0.01, with a current ratio of 2.47 and a quick ratio of 2.26. Vertex Pharmaceuticals has a market cap of $133.08 billion, with a price-to-earnings ratio of -259.67 and a beta of 0.39. The company’s stock has a 12-month low of $341.90 and a high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) recently released its quarterly earnings on November 4th, reporting an EPS of $4.38, exceeding analysts' predictions of $3.61 by $0.77. Additionally, the company's revenue for the quarter was reported as $2.77 billion, which surpassed analyst expectations of $2.69 billion. Vertex experienced a negative return on equity of 1.91% and a negative net margin of 4.52%, although its quarterly revenue increased by 11.6% compared to the same quarter the previous year. Analysts expect Vertex Pharmaceuticals to post a negative EPS of -2.04 for the current year.

About Vertex Pharmaceuticals

(Free Report)

Vertex Pharmaceuticals Incorporated is committed to developing and commercializing innovative therapies for cystic fibrosis (CF). The company markets several products including TRIKAFTA/KAFTRIO, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO, helping patients of varying ages who are affected by CF.

Conclusion

Investors interested in Vertex Pharmaceuticals should consider the recent stake increase by Lindbrook Capital LLC, alongside the activity and opinions of other institutional investors and analysts. The company’s recent performance in revenue growth and earnings also signals its ongoing strength within the biotechnology sector.

investment, pharmaceuticals, stocks