Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,885 shares of the pharmaceutical company’s stock after buying an additional 1,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Vertex Pharmaceuticals were worth $15,397,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Renaissance Technologies LLC lifted its position in Vertex Pharmaceuticals by 42.1% during the second quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock worth $688,443,000 after buying an additional 1,199,700 shares during the period. American Century Companies Inc. lifted its position in Vertex Pharmaceuticals by 357.5% during the second quarter. American Century Companies Inc. now owns 1,125,428 shares of the pharmaceutical company’s stock worth $191,278,000 after buying an additional 879,411 shares during the period. Standard Life Aberdeen plc lifted its position in Vertex Pharmaceuticals by 238.9% during the second quarter. Standard Life Aberdeen plc now owns 1,144,913 shares of the pharmaceutical company’s stock worth $194,646,000 after buying an additional 807,086 shares during the period. PointState Capital LP lifted its position in Vertex Pharmaceuticals by 160.9% during the second quarter. PointState Capital LP now owns 779,200 shares of the pharmaceutical company’s stock worth $132,433,000 after buying an additional 480,523 shares during the period. Finally, OppenheimerFunds Inc. lifted its position in Vertex Pharmaceuticals by 753.5% during the second quarter. OppenheimerFunds Inc. now owns 523,315 shares of the pharmaceutical company’s stock worth $88,943,000 after buying an additional 462,000 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.
VRTX stock opened at $180.55 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.71 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1 year low of $136.50 and a 1 year high of $194.92. The stock has a market capitalization of $46.99 billion, a PE ratio of 82.09, a P/E/G ratio of 1.82 and a beta of 1.61.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. The business had revenue of $784.54 million during the quarter, compared to analyst estimates of $782.95 million. During the same quarter last year, the firm earned $0.53 earnings per share. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current year.
In other news, CFO Thomas Graney sold 1,076 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $193.24, for a total value of $207,926.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 2,125 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the sale, the executive vice president now owns 48,877 shares of the company’s stock, valued at approximately $8,890,237.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,550 shares of company stock valued at $5,482,235. Insiders own 1.80% of the company’s stock.
VRTX has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on Vertex Pharmaceuticals in a research note on Monday, October 1st. They set an “overweight” rating and a $217.00 price target for the company. Piper Jaffray Companies dropped their price target on Vertex Pharmaceuticals to $217.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. Argus upped their price target on Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Citigroup upped their price target on Vertex Pharmaceuticals from $203.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, UBS Group upped their price target on Vertex Pharmaceuticals from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $202.14.
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Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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