Quantitative Systematic Strategies LLC acquired a new stake in shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) during the second quarter, Holdings Channel reports. The fund acquired 7,059 shares of the pharmaceutical company’s stock, valued at approximately $600,000.
Other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in shares of Vertex Pharmaceuticals by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,763 shares of the pharmaceutical company’s stock valued at $152,000 after buying an additional 73 shares in the last quarter. BlueMountain Capital Management LLC boosted its position in Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock worth $148,000 after buying an additional 764 shares during the period. ING Groep NV acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $204,000. Douglass Winthrop Advisors LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $260,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $267,000. 96.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded down 1.65% during midday trading on Friday, hitting $79.23. The company had a trading volume of 1,976,960 shares. The stock has a 50 day moving average price of $90.80 and a 200 day moving average price of $89.74. Vertex Pharmaceuticals Inc. has a 1-year low of $75.90 and a 1-year high of $134.71. The firm’s market capitalization is $19.63 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business earned $431.61 million during the quarter, compared to analyst estimates of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The company’s quarterly revenue was up 159.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.54) EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current fiscal year.
A number of brokerages recently weighed in on VRTX. Piper Jaffray Cos. restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Saturday, June 18th. RBC Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, October 1st. Leerink Swann set a $112.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, September 17th. Cowen and Company reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG set a $110.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $117.60.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $90.33, for a total transaction of $587,145.00. Following the completion of the sale, the director now directly owns 274,725 shares in the company, valued at approximately $24,815,909.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stuart A. Arbuckle sold 1,208 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $86.46, for a total transaction of $104,443.68. Following the sale, the executive vice president now owns 114,566 shares of the company’s stock, valued at $9,905,376.36. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
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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