OLD Mission Capital LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,431 shares of the pharmaceutical company’s stock, valued at approximately $814,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in shares of Vertex Pharmaceuticals by 337.6% in the fourth quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock worth $119,000 after acquiring an additional 611 shares during the period. Whittier Trust Co. boosted its stake in shares of Vertex Pharmaceuticals by 153.5% in the fourth quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock worth $149,000 after acquiring an additional 600 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $162,000. Financial Gravity Companies Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $201,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $184,000. 94.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at $173.97 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $88.90 and a 52-week high of $178.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.14 and a current ratio of 3.28. The stock has a market capitalization of $44,273.69, a P/E ratio of 220.73, a price-to-earnings-growth ratio of 2.48 and a beta of 1.56.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The business had revenue of $651.63 million for the quarter, compared to the consensus estimate of $592.49 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current year.
Vertex Pharmaceuticals announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 31st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the pharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, EVP Amit Sachdev sold 13,750 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $175.00, for a total value of $2,406,250.00. Following the sale, the executive vice president now directly owns 60,412 shares in the company, valued at $10,572,100. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas Graney sold 777 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 356,966 shares of company stock worth $57,081,624. Company insiders own 1.80% of the company’s stock.
A number of equities analysts have recently weighed in on VRTX shares. Cowen reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, December 11th. Deutsche Bank started coverage on Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They issued a “buy” rating and a $175.00 price objective for the company. Oppenheimer upped their price objective on Vertex Pharmaceuticals from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Bank of America raised Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Friday, January 5th. Finally, Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $176.00 price objective for the company in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $183.96.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company 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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