Nicholas Investment Partners LP Invests $3.58 Million in Vertex Pharmaceuticals Incorporated (VRTX)

Nicholas Investment Partners LP acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the first quarter, Holdings Channel reports. The institutional investor acquired 32,786 shares of the pharmaceutical company’s stock, valued at approximately $3,584,000.

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Vertex Pharmaceuticals by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 1,450,278 shares of the pharmaceutical company’s stock valued at $106,842,000 after buying an additional 64,159 shares during the last quarter. A.R.T. Advisors LLC increased its stake in Vertex Pharmaceuticals by 229.1% in the fourth quarter. A.R.T. Advisors LLC now owns 36,200 shares of the pharmaceutical company’s stock valued at $2,666,000 after buying an additional 25,200 shares during the last quarter. Arrowpoint Asset Management LLC increased its stake in Vertex Pharmaceuticals by 35.1% in the fourth quarter. Arrowpoint Asset Management LLC now owns 5,250 shares of the pharmaceutical company’s stock valued at $387,000 after buying an additional 1,364 shares during the last quarter. Credit Agricole S A increased its stake in Vertex Pharmaceuticals by 22.3% in the fourth quarter. Credit Agricole S A now owns 74,409 shares of the pharmaceutical company’s stock valued at $5,482,000 after buying an additional 13,591 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $258,000. Institutional investors and hedge funds own 94.18% of the company’s stock.

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded up 0.617% during mid-day trading on Tuesday, hitting $126.355. 1,344,956 shares of the stock were exchanged. The company has a 50-day moving average price of $120.51 and a 200-day moving average price of $98.35. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $130.69. The company has a market cap of $31.47 billion, a P/E ratio of 176.227 and a beta of 1.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.09. The business had revenue of $714.72 million during the quarter, compared to the consensus estimate of $692.64 million. Vertex Pharmaceuticals had a net margin of 8.64% and a return on equity of 3.00%. The business’s revenue was up 79.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. Analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.66 earnings per share for the current fiscal year.

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Several research firms have recently commented on VRTX. CIBC upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $126.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, June 9th. TheStreet upgraded shares of Vertex Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Tuesday, May 2nd. Finally, Vetr upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and set a $119.50 price objective for the company in a research note on Tuesday, May 30th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average target price of $117.02.

In other news, EVP Amit Sachdev sold 80,500 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $107.63, for a total value of $8,664,215.00. Following the completion of the transaction, the executive vice president now owns 105,054 shares in the company, valued at approximately $11,306,962.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stuart A. Arbuckle sold 70,969 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $128.06, for a total transaction of $9,088,290.14. Following the completion of the transaction, the executive vice president now owns 145,061 shares of the company’s stock, valued at approximately $18,576,511.66. The disclosure for this sale can be found here. Insiders sold a total of 499,175 shares of company stock valued at $60,610,079 in the last quarter. Insiders own 1.90% of the company’s stock.

About Vertex Pharmaceuticals

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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

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