Russell Investments Group Ltd. raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 85.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,082 shares of the pharmaceutical company’s stock after acquiring an additional 108,446 shares during the period. Russell Investments Group Ltd.’s holdings in Vertex Pharmaceuticals were worth $45,159,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of VRTX. Renaissance Technologies LLC boosted its stake in shares of Vertex Pharmaceuticals by 42.1% during the second quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock valued at $688,443,000 after purchasing an additional 1,199,700 shares during the period. American Century Companies Inc. boosted its stake in shares of 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 valued at $191,278,000 after purchasing an additional 879,411 shares during the period. Standard Life Aberdeen plc boosted its stake in shares of 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 valued at $194,646,000 after purchasing an additional 807,086 shares during the period. PointState Capital LP boosted its stake in shares of Vertex Pharmaceuticals by 160.9% during the second quarter. PointState Capital LP now owns 779,200 shares of the pharmaceutical company’s stock valued at $132,433,000 after purchasing an additional 480,523 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in shares of Vertex Pharmaceuticals by 753.5% during the second quarter. OppenheimerFunds Inc. now owns 523,315 shares of the pharmaceutical company’s stock valued at $88,943,000 after purchasing an additional 462,000 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.
In related news, EVP David Altshuler sold 2,125 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $181.89, for a total value of $386,516.25. Following the transaction, the executive vice president now owns 41,238 shares in the company, valued at approximately $7,500,779.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Paul M. Silva sold 2,098 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $174.44, for a total transaction of $365,975.12. Following the completion of the transaction, the senior vice president now owns 17,376 shares in the company, valued at approximately $3,031,069.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,325 shares of company stock worth $6,135,340. Corporate insiders own 0.75% of the company’s stock.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Vertex Pharmaceuticals had a net margin of 22.87% and a return on equity of 22.92%. The firm had revenue of $784.54 million for the quarter, compared to the consensus estimate of $782.95 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Vertex Pharmaceuticals in a research note on Monday, October 1st. They set an “overweight” rating and a $217.00 target price for the company. Raymond James began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, October 2nd. They issued a “buy” rating for the company. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Finally, Jefferies Financial Group boosted their target price on shares of Vertex Pharmaceuticals to $210.00 and gave the stock a “buy” rating in a report on Monday, July 16th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $202.14.
Vertex Pharmaceuticals 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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