Wrapmanager Inc. raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,225 shares of the pharmaceutical company’s stock after acquiring an additional 102 shares during the period. Wrapmanager Inc.’s holdings in Vertex Pharmaceuticals were worth $1,325,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $32,000. FTB Advisors Inc. grew its position in Vertex Pharmaceuticals by 1,618.2% during the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 178 shares during the last quarter. Pittenger & Anderson Inc. grew its position in Vertex Pharmaceuticals by 64.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Thor Advisors LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $37,000. Finally, Pearl River Capital LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $44,000. 94.70% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on VRTX shares. Goldman Sachs Group restated a “buy” rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. Credit Suisse Group lifted their price objective on Vertex Pharmaceuticals from $209.00 to $213.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Piper Jaffray Companies lifted their price objective on Vertex Pharmaceuticals from $217.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup reiterated a “buy” rating and issued a $205.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $206.63.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 113,432 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 24th. The stock was sold at an average price of $175.10, for a total transaction of $19,861,943.20. Following the completion of the transaction, the chief executive officer now owns 219,719 shares in the company, valued at $38,472,796.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stuart A. Arbuckle sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, August 8th. 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 35,365 shares of the company’s stock, valued at approximately $6,432,539.85. The disclosure for this sale can be found here. Insiders have sold 185,755 shares of company stock valued at $32,584,144 in the last quarter. 0.70% of the stock is owned by company insiders.

Shares of NASDAQ VRTX traded up $4.48 during mid-day trading on Tuesday, hitting $184.32. 32,485 shares of the stock traded hands, compared to its average volume of 1,395,006. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.63 and a current ratio of 3.74. Vertex Pharmaceuticals Incorporated has a 52 week low of $151.80 and a 52 week high of $195.81. The company has a market capitalization of $46.32 billion, a P/E ratio of 65.14, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40. The stock has a fifty day moving average of $176.87.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The company had revenue of $941.29 million for the quarter, compared to analyst estimates of $884.66 million. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.41 EPS for the current fiscal year.

Vertex Pharmaceuticals declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 31st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the pharmaceutical company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

Read More: What is the Dow Jones Industrial Average (DJIA)?

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.