Van ECK Associates Corp increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,293 shares of the pharmaceutical company’s stock after purchasing an additional 20,403 shares during the quarter. Van ECK Associates Corp owned about 0.05% of Vertex Pharmaceuticals worth $28,489,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Twin Focus Capital Partners LLC raised its position in Vertex Pharmaceuticals by 5.1% in the first quarter. Twin Focus Capital Partners LLC now owns 1,072 shares of the pharmaceutical company’s stock worth $230,000 after acquiring an additional 52 shares in the last quarter. Prudent Man Advisors LLC raised its holdings in Vertex Pharmaceuticals by 3.1% during the 2nd quarter. Prudent Man Advisors LLC now owns 1,748 shares of the pharmaceutical company’s stock worth $352,000 after buying an additional 53 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Vertex Pharmaceuticals by 3.0% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 2,075 shares of the pharmaceutical company’s stock worth $419,000 after buying an additional 60 shares during the period. Parallel Advisors LLC raised its holdings in Vertex Pharmaceuticals by 5.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,337 shares of the pharmaceutical company’s stock worth $270,000 after buying an additional 69 shares during the period. Finally, Beacon Pointe Advisors LLC raised its holdings in Vertex Pharmaceuticals by 5.1% during the 1st quarter. Beacon Pointe Advisors LLC now owns 1,451 shares of the pharmaceutical company’s stock worth $313,000 after buying an additional 70 shares during the period. 88.63% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ VRTX opened at $188.41 on Wednesday. The business has a fifty day simple moving average of $197.47 and a 200 day simple moving average of $205.62. The company has a current ratio of 4.61, a quick ratio of 4.43 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $48.88 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.77 and a beta of 0.63. Vertex Pharmaceuticals Incorporated has a one year low of $185.32 and a one year high of $280.99.
Several research firms have issued reports on VRTX. Robert W. Baird cut their price objective on Vertex Pharmaceuticals from $252.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, June 11th. They noted that the move was a valuation call. Raymond James started coverage on Vertex Pharmaceuticals in a report on Wednesday, June 30th. They issued a “market perform” rating on the stock. Daiwa Capital Markets downgraded Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $210.00 target price on the stock. in a report on Friday, June 11th. Evercore ISI reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Sunday, June 13th. Finally, Morgan Stanley downgraded Vertex Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $202.00 target price on the stock. in a report on Tuesday, September 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $264.70.
In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 19th. The shares were bought at an average price of $195.65 per share, for a total transaction of $1,956,500.00. Following the completion of the acquisition, the chief executive officer now owns 69,511 shares of the company’s stock, valued at $13,599,827.15. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.
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