Nisa Investment Advisors LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.7% during the 4th quarter, Holdings Channel reports. The fund owned 89,882 shares of the pharmaceutical company’s stock after purchasing an additional 11,489 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $13,470,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock worth $2,188,196,000 after buying an additional 504,982 shares during the period. Jennison Associates LLC lifted its holdings in Vertex Pharmaceuticals by 19.0% in the 3rd quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock worth $914,941,000 after buying an additional 962,644 shares during the period. Orbimed Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 2.4% in the 3rd quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock worth $315,377,000 after buying an additional 47,800 shares during the period. Bank of New York Mellon Corp lifted its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,994,410 shares of the pharmaceutical company’s stock worth $303,230,000 after buying an additional 12,454 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Vertex Pharmaceuticals by 3.2% in the 3rd quarter. Wells Fargo & Company MN now owns 1,977,269 shares of the pharmaceutical company’s stock worth $300,624,000 after buying an additional 61,042 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.
Several equities research analysts have weighed in on VRTX shares. Maxim Group reiterated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, October 26th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $174.00 target price for the company in a research note on Tuesday, September 26th. Deutsche Bank started coverage on Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They issued a “buy” rating and a $175.00 target price for the company. Royal Bank of Canada restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Finally, DA Davidson started coverage on Vertex Pharmaceuticals in a research note on Friday, September 29th. They issued a “buy” rating and a $200.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $175.89.
In related news, EVP Amit Sachdev sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the completion of the transaction, the executive vice president now owns 89,810 shares of the company’s stock, valued at approximately $13,026,940.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul M. Silva sold 1,289 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $152.31, for a total value of $196,327.59. Following the transaction, the senior vice president now directly owns 17,923 shares of the company’s stock, valued at approximately $2,729,852.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 358,464 shares of company stock valued at $51,830,442. 1.80% of the stock is owned by corporate insiders.
Vertex Pharmaceuticals Incorporated (VRTX) opened at $157.93 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $79.78 and a 52-week high of $167.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28. The firm has a market capitalization of $39,940.00, a P/E ratio of 202.47, a P/E/G ratio of 1.87 and a beta of 1.58.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The company had revenue of $578.20 million during the quarter, compared to analyst estimates of $522.07 million. During the same quarter last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 0.76 earnings per share for the current year.
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Vertex Pharmaceuticals 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.
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