American Research & Management Co. increased its position in shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 9,800 shares of the pharmaceutical company’s stock after buying an additional 200 shares during the period. American Research & Management Co.’s holdings in Vertex Pharmaceuticals were worth $843,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Samlyn Capital LLC boosted its stake in Vertex Pharmaceuticals by 19.7% in the first quarter. Samlyn Capital LLC now owns 381,000 shares of the pharmaceutical company’s stock worth $30,286,000 after buying an additional 62,587 shares during the last quarter. Strs Ohio boosted its stake in Vertex Pharmaceuticals by 9.9% in the second quarter. Strs Ohio now owns 346,339 shares of the pharmaceutical company’s stock worth $29,792,000 after buying an additional 31,241 shares during the last quarter. Bank of Montreal Can acquired a new stake in Vertex Pharmaceuticals during the second quarter worth $14,876,000. Nisa Investment Advisors LLC boosted its stake in Vertex Pharmaceuticals by 21.9% in the second quarter. Nisa Investment Advisors LLC now owns 63,375 shares of the pharmaceutical company’s stock worth $5,452,000 after buying an additional 11,375 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter worth $1,153,000. Institutional investors and hedge funds own 96.17% of the company’s stock.
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded up 3.03% on Tuesday, reaching $82.94. The company had a trading volume of 1,128,976 shares. The stock has a 50 day moving average price of $89.83 and a 200 day moving average price of $89.91. The stock’s market capitalization is $20.55 billion. Vertex Pharmaceuticals Inc. has a 52-week low of $75.90 and a 52-week 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 Zacks’ consensus estimate of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The company earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. During the same period last year, the firm earned ($0.54) EPS. The company’s revenue for the quarter was up 159.9% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current year.
A number of analysts have commented on the company. RBC Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Saturday, October 1st. Leerink Swann set a $112.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, September 17th. Cowen and Company reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, July 28th. Credit Suisse Group AG set a $110.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, September 28th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $115.00 price objective (down previously from $128.00) on shares of Vertex Pharmaceuticals in a report on Friday, September 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $117.60.
In other news, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $95.93, for a total transaction of $623,545.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at approximately $26,354,369.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Stuart A. Arbuckle sold 1,208 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $86.46, for a total transaction of $104,443.68. Following the sale, the executive vice president now owns 114,566 shares of the company’s stock, valued at $9,905,376.36. The disclosure for this sale can be found here. 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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