Chartwell Investment Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, Holdings Channel reports. The fund purchased 69,715 shares of the pharmaceutical company’s stock, valued at approximately $6,080,000.
A number of other institutional investors have also modified their holdings of VRTX. Candriam Luxembourg S.C.A. boosted its position in shares of Vertex Pharmaceuticals by 40.5% in the third quarter. Candriam Luxembourg S.C.A. now owns 205,456 shares of the pharmaceutical company’s stock valued at $17,918,000 after buying an additional 59,226 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $267,000. Dai Ichi Life Holdings Inc. boosted its position in shares of Vertex Pharmaceuticals by 10.7% in the third quarter. Dai Ichi Life Holdings Inc. now owns 39,309 shares of the pharmaceutical company’s stock valued at $3,428,000 after buying an additional 3,799 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $2,804,000. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $486,000. 96.98% of the stock is owned by institutional investors.
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 1.25% during mid-day trading on Friday, hitting $88.15. 1,633,837 shares of the stock traded hands. Vertex Pharmaceuticals Incorporated has a 12-month low of $71.46 and a 12-month high of $103.73. The stock’s market cap is $21.89 billion. The firm’s 50 day moving average price is $82.21 and its 200-day moving average price is $86.88.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, January 25th. The pharmaceutical company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $458.71 million for the quarter, compared to analysts’ expectations of $453.40 million. Vertex Pharmaceuticals had a negative net margin of 6.76% and a negative return on equity of 2.15%. During the same period in the prior year, the company posted $0.17 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post $1.67 earnings per share for the current year.
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Several equities analysts have commented on the stock. Robert W. Baird reissued a “positive” rating on shares of Vertex Pharmaceuticals in a research report on Friday. Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, February 3rd. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 31st. Vetr upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $94.83 price objective on the stock in a report on Tuesday, January 31st. Finally, HC Wainwright set a $85.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $100.94.
In related news, Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $86.47, for a total value of $562,055.00. Following the sale, the director now directly owns 274,725 shares of the company’s stock, valued at $23,755,470.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua S. Boger sold 8,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $82.48, for a total transaction of $659,840.00. Following the completion of the sale, the director now directly owns 276,225 shares in the company, valued at $22,783,038. The disclosure for this sale can be found here. Insiders sold 53,500 shares of company stock worth $4,330,000 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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