Van ECK Associates Corp Boosts Position in Vertex Pharmaceuticals Incorporated (VRTX)

Van ECK Associates Corp boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.8% during the fourth quarter, Holdings Channel reports. The fund owned 340,586 shares of the pharmaceutical company’s stock after buying an additional 58,750 shares during the period. Van ECK Associates Corp owned about 0.14% of Vertex Pharmaceuticals worth $25,091,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. ING Groep NV purchased a new position in Vertex Pharmaceuticals during the second quarter valued at about $204,000. Sumitomo Mitsui Asset Management Company LTD increased its position in Vertex Pharmaceuticals by 4.2% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,904 shares of the pharmaceutical company’s stock valued at $1,626,000 after buying an additional 759 shares during the last quarter. American Research & Management Co. increased its position in Vertex Pharmaceuticals by 2.1% in the second quarter. American Research & Management Co. now owns 9,800 shares of the pharmaceutical company’s stock valued at $843,000 after buying an additional 200 shares during the last quarter. Everence Capital Management Inc. increased its position in Vertex Pharmaceuticals by 27.7% in the second quarter. Everence Capital Management Inc. now owns 7,012 shares of the pharmaceutical company’s stock valued at $603,000 after buying an additional 1,520 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Vertex Pharmaceuticals by 0.7% in the second quarter. California State Teachers Retirement System now owns 521,636 shares of the pharmaceutical company’s stock valued at $44,871,000 after buying an additional 3,714 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 1.25% on Friday, reaching $88.15. 1,633,837 shares of the company were exchanged. Vertex Pharmaceuticals Incorporated has a 52-week low of $71.46 and a 52-week high of $103.73. The company’s market capitalization is $21.89 billion. The stock has a 50 day moving average of $82.21 and a 200-day moving average of $86.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, January 25th. The pharmaceutical company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Vertex Pharmaceuticals had a negative net margin of 6.76% and a negative return on equity of 2.15%. The business had revenue of $458.71 million for the quarter, compared to analyst estimates of $453.40 million. During the same period in the previous year, the business posted $0.17 earnings per share. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post $1.67 EPS for the current fiscal year.

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VRTX has been the topic of several research reports. Jefferies Group LLC reissued a “buy” rating and issued a $105.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, October 21st. HC Wainwright downgraded Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the company from $155.00 to $85.00 in a research report on Monday, October 24th. BMO Capital Markets reissued a “market perform” rating and issued a $88.00 target price (up from $87.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 26th. Leerink Swann reissued an “outperform” rating and issued a $111.00 target price (down from $112.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $108.00 target price (down from $109.00) on shares of Vertex Pharmaceuticals in a research report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $100.94.

In related news, Director Joshua S. Boger sold 8,000 shares of the business’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $82.48, for a total transaction of $659,840.00. Following the sale, the director now owns 276,225 shares of the company’s stock, valued at $22,783,038. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $91.55, for a total transaction of $595,075.00. Following the sale, the director now directly owns 274,725 shares in the company, valued at approximately $25,151,073.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,500 shares of company stock worth $4,330,000. Company insiders own 1.90% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.

5 Day Chart for NASDAQ:VRTX

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).

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