Baillie Gifford & Co. Has $81.09 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Baillie Gifford & Co. decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 207,056 shares of the pharmaceutical company’s stock after selling 5,423 shares during the quarter. Baillie Gifford & Co.’s holdings in Vertex Pharmaceuticals were worth $81,091,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Access Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $27,000. Chesapeake Asset Management LLC increased its position in Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $29,000. Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $33,000. Finally, American National Bank & Trust grew its stake in shares of Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the sale, the executive vice president owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. This represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 165,105 shares of company stock worth $73,858,523. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Up 0.2%

NASDAQ:VRTX opened at $468.41 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The business’s 50-day moving average price is $449.07 and its two-hundred day moving average price is $427.21. The firm has a market capitalization of $118.84 billion, a price-to-earnings ratio of 33.03 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.38 EPS. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on VRTX shares. Citigroup boosted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price for the company in a research report on Tuesday, January 6th. Morgan Stanley set a $564.00 price target on Vertex Pharmaceuticals in a report on Friday, December 5th. Stifel Nicolaus dropped their price objective on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Finally, Evercore ISI upped their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.10.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.