Caprock Group LLC Invests $9.86 Million in Vertex Pharmaceuticals Incorporated $VRTX

Caprock Group LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 25,216 shares of the pharmaceutical company’s stock, valued at approximately $9,860,000.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $1,593,974,000. Jennison Associates LLC boosted its holdings in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after acquiring an additional 1,089,063 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Vertex Pharmaceuticals by 214.6% in the third quarter. Assenagon Asset Management S.A. now owns 763,703 shares of the pharmaceutical company’s stock valued at $299,097,000 after acquiring an additional 520,949 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Vertex Pharmaceuticals by 2.1% during the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after acquiring an additional 482,616 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Vertex Pharmaceuticals by 10.7% during the second quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock worth $1,949,228,000 after purchasing an additional 424,808 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the transaction, the chairman directly owned 24,026 shares in the company, valued at $10,792,479.20. This trade represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 4,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the transaction, the executive vice president directly owned 42,293 shares in the company, valued at approximately $20,088,752.07. This trade represents a 9.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 165,105 shares of company stock valued at $73,858,523. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 1.6%

VRTX opened at $463.48 on Wednesday. The firm has a market cap of $117.59 billion, a PE ratio of 32.69 and a beta of 0.30. The business has a fifty day simple moving average of $459.15 and a 200-day simple moving average of $427.05. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $564.00 target price on Vertex Pharmaceuticals in a research report on Friday, December 5th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Barclays upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $414.00 to $606.00 in a report on Tuesday, January 27th. Royal Bank Of Canada raised Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $455.00 to $546.00 in a report on Thursday, January 22nd. Finally, Wolfe Research upgraded shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target on the stock in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $522.68.

Vertex Pharmaceuticals Company Profile

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.