Chemical Bank increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 66.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,967 shares of the pharmaceutical company’s stock after buying an additional 1,581 shares during the period. Chemical Bank’s holdings in Vertex Pharmaceuticals were worth $765,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Kaizen Advisory LLC raised its position in shares of Vertex Pharmaceuticals by 147.3% in the second quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 358 shares during the last quarter. Sun Life Financial INC increased its position in Vertex Pharmaceuticals by 266.1% during the second quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock worth $118,000 after purchasing an additional 503 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Vertex Pharmaceuticals during the third quarter worth approximately $123,000. Flagship Harbor Advisors LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Vertex Pharmaceuticals by 3,126.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock worth $126,000 after purchasing an additional 719 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.
In other news, EVP David Altshuler sold 2,125 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the sale, the executive vice president now owns 41,238 shares of the company’s stock, valued at $7,500,779.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sangeeta N. Bhatia sold 6,818 shares of the stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $192.13, for a total transaction of $1,309,942.34. Following the completion of the sale, the director now directly owns 6,997 shares of the company’s stock, valued at approximately $1,344,333.61. The disclosure for this sale can be found here. Insiders sold 29,550 shares of company stock valued at $5,482,235 in the last three months. Company insiders own 1.80% of the company’s stock.
Several equities analysts recently commented on VRTX shares. Cantor Fitzgerald started coverage on shares of Vertex Pharmaceuticals in a research report on Monday, October 1st. They set an “overweight” rating and a $217.00 price target for the company. Piper Jaffray Companies dropped their price target on shares of Vertex Pharmaceuticals to $217.00 and set an “overweight” rating for the company in a research report on Friday, October 26th. Argus upped their price target on shares of Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Citigroup upped their price target on shares of Vertex Pharmaceuticals from $203.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, UBS Group upped their price target on shares of Vertex Pharmaceuticals from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Thursday, July 26th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $202.14.
Vertex Pharmaceuticals stock opened at $180.55 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $136.50 and a 52-week high of $194.92. The firm has a market capitalization of $44.78 billion, a PE ratio of 225.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.61. The company has a quick ratio of 3.59, a current ratio of 3.71 and a debt-to-equity ratio of 0.01.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. Vertex Pharmaceuticals had a net margin of 22.87% and a return on equity of 22.92%. The company had revenue of $784.54 million during the quarter, compared to analyst estimates of $782.95 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.55 EPS for the current fiscal year.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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