Norinchukin Bank The increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,144 shares of the pharmaceutical company’s stock after buying an additional 1,097 shares during the period. Norinchukin Bank The’s holdings in Vertex Pharmaceuticals were worth $1,765,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of VRTX. Princeton Capital Management Inc. raised its position in shares of Vertex Pharmaceuticals by 0.9% in the third quarter. Princeton Capital Management Inc. now owns 25,549 shares of the pharmaceutical company’s stock worth $2,228,000 after buying an additional 227 shares during the period. Canal Insurance CO raised its position in shares of Vertex Pharmaceuticals by 100.0% in the fourth quarter. Canal Insurance CO now owns 40,000 shares of the pharmaceutical company’s stock worth $2,947,000 after buying an additional 20,000 shares during the period. HighTower Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 195.6% in the third quarter. HighTower Advisors LLC now owns 8,554 shares of the pharmaceutical company’s stock worth $748,000 after buying an additional 5,660 shares during the period. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 74.2% in the third quarter. Jennison Associates LLC now owns 5,180,761 shares of the pharmaceutical company’s stock worth $451,814,000 after buying an additional 2,205,961 shares during the period. Finally, Federated Investors Inc. PA raised its position in shares of Vertex Pharmaceuticals by 3.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,352 shares of the pharmaceutical company’s stock worth $7,982,000 after buying an additional 3,800 shares during the period. Institutional investors own 94.85% of the company’s stock.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded up 0.08% during midday trading on Friday, hitting $118.02. 1,564,730 shares of the stock traded hands. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $121.96. The stock’s 50-day moving average price is $115.30 and its 200-day moving average price is $92.51. The stock has a market capitalization of $29.40 billion, a P/E ratio of 164.60 and a beta of 0.79.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. The company had revenue of $714.72 million during the quarter, compared to analyst estimates of $692.64 million. Vertex Pharmaceuticals had a negative net margin of 6.76% and a negative return on equity of 2.15%. Vertex Pharmaceuticals’s quarterly revenue was up 79.5% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post $1.62 EPS for the current fiscal year.
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A number of equities analysts have recently commented on VRTX shares. Vetr upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “buy” rating and set a $102.50 price target on the stock in a report on Tuesday, March 14th. Stifel Nicolaus cut their price target on shares of Vertex Pharmaceuticals from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, January 26th. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, February 3rd. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, April 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $114.53.
In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 80,500 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $107.63, for a total transaction of $8,664,215.00. Following the completion of the sale, the executive vice president now directly owns 105,054 shares in the company, valued at approximately $11,306,962.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Jeffrey Chodakewitz sold 13,750 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $106.65, for a total transaction of $1,466,437.50. Following the sale, the chief marketing officer now owns 136,261 shares of the company’s stock, valued at $14,532,235.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,429 shares of company stock valued at $31,346,164. 1.90% of the stock is owned by company insiders.
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.
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