Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,600 shares of the pharmaceutical company’s stock after selling 21,950 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vertex Pharmaceuticals were worth $1,094,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $27,000. Oregon Public Employees Retirement Fund boosted its stake in Vertex Pharmaceuticals by 16,530.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after acquiring an additional 4,583,156 shares during the last quarter. We Are One Seven LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $32,000. Quantamental Technologies LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $41,000. Finally, JOYN Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 66.7% during the 4th quarter. JOYN Advisors Inc. now owns 260 shares of the pharmaceutical company’s stock worth $43,000 after acquiring an additional 104 shares during the last quarter. 94.66% of the stock is currently owned by institutional investors and hedge funds.
In other news, CMO Reshma Kewalramani sold 1,488 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $278,166.72. Following the sale, the chief marketing officer now directly owns 14,038 shares in the company, valued at $2,624,263.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 111,431 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $180.24, for a total transaction of $20,084,323.44. Following the completion of the sale, the chief executive officer now owns 223,916 shares in the company, valued at $40,358,619.84. The disclosure for this sale can be found here. Insiders sold 214,999 shares of company stock worth $39,289,000 over the last quarter. 0.75% of the stock is owned by corporate insiders.
NASDAQ VRTX opened at $188.09 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $144.07 and a 12-month high of $195.81. The company has a market capitalization of $48.09 billion, a PE ratio of 66.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.65.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The company had revenue of $870.11 million for the quarter, compared to the consensus estimate of $818.29 million. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was up 33.5% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 3.04 EPS for the current fiscal year.
Several brokerages have commented on VRTX. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday. BMO Capital Markets raised their target price on shares of Vertex Pharmaceuticals to $234.00 and gave the stock an “outperform” rating in a report on Wednesday, February 6th. Maxim Group downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. They noted that the move was a valuation call. Finally, Cowen restated a “buy” rating and set a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average target price of $206.92.
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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 treating 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 treating 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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