Sit Investment Associates Inc. decreased its stake in Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by 25.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,900 shares of the pharmaceutical company’s stock after selling 3,400 shares during the period. Sit Investment Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $852,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC raised its position in shares of Vertex Pharmaceuticals by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,763 shares of the pharmaceutical company’s stock valued at $152,000 after buying an additional 73 shares during the period. BlueMountain Capital Management LLC raised its position in shares of Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock valued at $148,000 after buying an additional 764 shares during the period. ING Groep NV bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $204,000. Douglass Winthrop Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $260,000. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $267,000. 96.19% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded down 0.618% on Wednesday, hitting $81.155. The stock had a trading volume of 1,491,823 shares. The stock has a 50-day moving average of $91.85 and a 200-day moving average of $89.88. The company’s market cap is $20.11 billion. Vertex Pharmaceuticals Inc. has a one year low of $75.90 and a one year high of $134.71.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business had revenue of $431.61 million for the quarter, compared to analyst estimates of $428.08 million. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business’s revenue was up 159.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.54) EPS. Equities analysts expect that Vertex Pharmaceuticals Inc. will post $0.89 earnings per share for the current fiscal year.
VRTX has been the topic of several research reports. Piper Jaffray Cos. reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Saturday, June 18th. RBC Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Saturday, October 1st. Leerink Swann set a $112.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, September 17th. Cowen and Company reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, July 28th. Finally, Jefferies Group reissued a “buy” rating and set a $104.00 price target on shares of Vertex Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average target price of $117.60.
In related news, EVP Stuart A. Arbuckle sold 1,208 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $86.46, for a total transaction of $104,443.68. Following the completion of the transaction, the executive vice president now directly owns 114,566 shares in the company, valued at approximately $9,905,376.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $95.93, for a total value of $623,545.00. Following the transaction, the director now owns 274,725 shares of the company’s stock, valued at $26,354,369.25. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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