Pacer Advisors Inc. Has $34.52 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Pacer Advisors Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 76,142 shares of the pharmaceutical company’s stock after purchasing an additional 9,641 shares during the period. Pacer Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $34,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its holdings in Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at $29,000. Ares Financial Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at $33,000. Financial Network Wealth Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Archer Investment Corp grew its position in shares of Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 35 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,329 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $481.79, for a total transaction of $1,122,088.91. Following the completion of the sale, the chief marketing officer owned 35,405 shares of the company’s stock, valued at approximately $17,057,774.95. This represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,314 shares of company stock worth $35,007,953 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.1%

Shares of Vertex Pharmaceuticals stock opened at $453.06 on Thursday. The company has a 50 day moving average of $446.86 and a 200-day moving average of $450.29. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The company has a market cap of $114.99 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm posted $4.06 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Barclays increased their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. UBS Group increased their target price on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $555.17.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.