Vertex Pharmaceuticals Inc. (VRTX) Position Raised by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. increased its position in shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by 407.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,010 shares of the pharmaceutical company’s stock after buying an additional 28,910 shares during the period. Icon Advisers Inc. Co.’s holdings in Vertex Pharmaceuticals were worth $3,140,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Citizens Financial Group Inc RI raised its stake in shares of Vertex Pharmaceuticals by 27.0% in the second quarter. Citizens Financial Group Inc RI now owns 1,189 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 253 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,218 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $107,000. Paradigm Asset Management Co. LLC raised its stake in shares of Vertex Pharmaceuticals by 20.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,450 shares of the pharmaceutical company’s stock worth $125,000 after buying an additional 249 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its stake in shares of Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock worth $148,000 after buying an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 95.39% of the company’s stock.
Shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded down 0.80% during mid-day trading on Monday, hitting $87.07. 649,160 shares of the company were exchanged. The company has a 50 day moving average of $83.87 and a 200 day moving average of $89.83. Vertex Pharmaceuticals Inc. has a 52 week low of $73.31 and a 52 week high of $134.23. The company’s market capitalization is $21.60 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business earned $413.78 million during the quarter, compared to the consensus estimate of $423.53 million. Vertex Pharmaceuticals had a negative return on equity of 5.31% and a negative net margin of 13.45%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Equities analysts anticipate that Vertex Pharmaceuticals Inc. will post $0.78 earnings per share for the current year.
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A number of brokerages have weighed in on VRTX. Stifel Nicolaus restated a “buy” rating and issued a $108.00 target price (down previously from $109.00) on shares of Vertex Pharmaceuticals in a research report on Friday, October 28th. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 27th. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, September 29th. Vetr lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $87.67 price target on the stock. in a report on Monday, November 7th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $87.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $108.13.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 5,062 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $90.98, for a total transaction of $460,540.76. Following the completion of the sale, the senior vice president now directly owns 17,125 shares in the company, valued at approximately $1,558,032.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joshua S. Boger sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $94.62, for a total transaction of $615,030.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at $25,994,479.50. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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