Dynamic Technology Lab Private Ltd acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,080 shares of the pharmaceutical company’s stock, valued at approximately $654,000.
Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 48.6% in the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock valued at $55,809,000 after purchasing an additional 166,998 shares during the period. NorthCoast Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter worth about $782,000. Delta Lloyd Asset Management N.V. acquired a new stake in Vertex Pharmaceuticals during the second quarter worth about $3,285,000. Prudential Financial Inc. grew its holdings in Vertex Pharmaceuticals by 12.8% during the second quarter. Prudential Financial Inc. now owns 444,725 shares of the pharmaceutical company’s stock worth $57,312,000 after acquiring an additional 50,350 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Vertex Pharmaceuticals by 89.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 14,463 shares of the pharmaceutical company’s stock worth $1,863,000 after acquiring an additional 6,836 shares during the period. 92.93% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on VRTX. Raymond James Financial, Inc. raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price objective on the stock in a report on Wednesday, July 19th. J P Morgan Chase & Co set a $175.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. raised their price objective on Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, September 27th. Finally, Robert W. Baird restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $169.74.
In related news, CMO Jeffrey Chodakewitz sold 1,718 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $155.19, for a total value of $266,616.42. Following the completion of the sale, the chief marketing officer now owns 116,142 shares in the company, valued at $18,024,076.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link
. Also, EVP Stuart A. Arbuckle sold 2,125 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $152.99, for a total transaction of $325,103.75. Following the completion of the sale, the executive vice president now owns 123,242 shares of the company’s stock, valued at approximately $18,854,793.58. The disclosure for this sale can be found here
. Insiders have sold 43,748 shares of company stock valued at $6,734,021 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
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Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded up 4.42% during mid-day trading on Friday, hitting $150.11. The stock had a trading volume of 2,747,621 shares. The company has a 50-day moving average of $153.41 and a 200-day moving average of $138.57. The firm has a market cap of $37.85 billion, a PE ratio of 144.20 and a beta of 1.73. Vertex Pharmaceuticals Incorporated has a 12-month low of $71.46 and a 12-month high of $167.86.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The company had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. During the same period in the prior year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post $1.63 earnings per share for the current year.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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