Tocqueville Asset Management L.P. increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,015 shares of the pharmaceutical company’s stock after buying an additional 2,775 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Vertex Pharmaceuticals were worth $7,905,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VRTX. FMR LLC raised its stake in Vertex Pharmaceuticals by 10.5% during the 3rd quarter. FMR LLC now owns 18,071,478 shares of the pharmaceutical company’s stock worth $3,483,097,000 after buying an additional 1,714,071 shares during the period. Renaissance Technologies LLC raised its stake in Vertex Pharmaceuticals by 42.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock worth $688,443,000 after buying an additional 1,199,700 shares during the period. Jennison Associates LLC raised its stake in Vertex Pharmaceuticals by 22.5% during the 3rd quarter. Jennison Associates LLC now owns 6,202,493 shares of the pharmaceutical company’s stock worth $1,195,468,000 after buying an additional 1,139,486 shares during the period. American Century Companies Inc. raised its stake in Vertex Pharmaceuticals by 357.5% during the 2nd quarter. American Century Companies Inc. now owns 1,125,428 shares of the pharmaceutical company’s stock worth $191,278,000 after buying an additional 879,411 shares during the period. Finally, Standard Life Aberdeen plc raised its stake in Vertex Pharmaceuticals by 238.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 1,144,913 shares of the pharmaceutical company’s stock worth $194,646,000 after buying an additional 807,086 shares during the period. 93.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ VRTX opened at $172.21 on Friday. The stock has a market capitalization of $45.90 billion, a PE ratio of 215.26, a P/E/G ratio of 1.78 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.71 and a quick ratio of 3.59. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $139.11 and a fifty-two week high of $194.92.
Several analysts recently commented on VRTX shares. Cantor Fitzgerald initiated coverage on Vertex Pharmaceuticals in a research note on Monday, October 1st. They set an “overweight” rating and a $217.00 price objective on the stock. Piper Jaffray Companies dropped their price target on Vertex Pharmaceuticals to $217.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. Argus lifted their price target on Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research note on Monday, September 3rd. Finally, BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $201.14.
In related news, SVP Paul M. Silva sold 809 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $186.52, for a total transaction of $150,894.68. Following the completion of the transaction, the senior vice president now owns 16,896 shares in the company, valued at $3,151,441.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Graney sold 1,076 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $193.24, for a total value of $207,926.24. The disclosure for this sale can be found here. Insiders sold a total of 28,346 shares of company stock valued at $5,264,953 in the last 90 days. 1.80% of the stock is owned by corporate insiders.
Vertex Pharmaceuticals Profile
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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