Arrowstreet Capital Limited Partnership lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 90.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,203,221 shares of the pharmaceutical company’s stock after buying an additional 570,287 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Vertex Pharmaceuticals were worth $180,315,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of VRTX. Advisory Services Network LLC lifted its holdings in shares of Vertex Pharmaceuticals by 337.6% during the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock valued at $119,000 after acquiring an additional 611 shares in the last quarter. Smithfield Trust Co. acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $135,000. Whittier Trust Co. lifted its holdings in shares of Vertex Pharmaceuticals by 153.5% during the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock valued at $149,000 after acquiring an additional 600 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $162,000. Finally, Baldwin Brothers Inc. MA acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth $184,000. Institutional investors and hedge funds own 92.84% of the company’s stock.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at $160.72 on Monday. The firm has a market cap of $40,650.00, a PE ratio of 154.54, a PEG ratio of 2.29 and a beta of 1.61. Vertex Pharmaceuticals Incorporated has a 1 year low of $84.39 and a 1 year high of $174.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.58.
Vertex Pharmaceuticals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 31st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the pharmaceutical company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Jeffrey M. Leiden sold 125,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the completion of the sale, the chief executive officer now owns 237,407 shares of the company’s stock, valued at approximately $33,557,479.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Graney sold 777 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $149.95, for a total transaction of $116,511.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 448,320 shares of company stock valued at $69,007,823. Insiders own 1.80% of the company’s stock.
A number of brokerages have commented on VRTX. JMP Securities reiterated an “outperform” rating and issued a $211.00 price objective (up previously from $200.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Credit Suisse Group boosted their price objective on shares of Vertex Pharmaceuticals from $195.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Finally, Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $183.11.
Vertex Pharmaceuticals Company Profile
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).
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.