Toroso Investments LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 118.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,162 shares of the pharmaceutical company’s stock after purchasing an additional 3,337 shares during the quarter. Toroso Investments LLC’s holdings in Vertex Pharmaceuticals were worth $1,242,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Melqart Asset Management UK Ltd lifted its holdings in Vertex Pharmaceuticals by 90.7% during the 1st quarter. Melqart Asset Management UK Ltd now owns 269,400 shares of the pharmaceutical company’s stock worth $57,891,000 after buying an additional 128,100 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Vertex Pharmaceuticals by 16.9% in the 2nd quarter. Van ECK Associates Corp now owns 141,293 shares of the pharmaceutical company’s stock valued at $28,489,000 after purchasing an additional 20,403 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Vertex Pharmaceuticals by 74,166.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 187,894 shares of the pharmaceutical company’s stock valued at $37,885,000 after purchasing an additional 187,641 shares during the last quarter. Legal & General Group Plc increased its position in shares of Vertex Pharmaceuticals by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 1,949,057 shares of the pharmaceutical company’s stock valued at $392,988,000 after purchasing an additional 240,660 shares during the last quarter. Finally, Seizert Capital Partners LLC increased its position in shares of Vertex Pharmaceuticals by 3.2% in the 2nd quarter. Seizert Capital Partners LLC now owns 34,957 shares of the pharmaceutical company’s stock valued at $7,048,000 after purchasing an additional 1,098 shares during the last quarter. Institutional investors own 88.63% of the company’s stock.
VRTX has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on shares of Vertex Pharmaceuticals from $261.00 to $323.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. Royal Bank of Canada increased their price target on shares of Vertex Pharmaceuticals from $246.00 to $248.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Raymond James started coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, June 30th. They set a “market perform” rating for the company. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and set a $210.00 price target for the company. in a research note on Tuesday, July 6th. Finally, Morgan Stanley cut shares of Vertex Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $202.00 price target for the company. in a research note on Tuesday, September 7th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $264.70.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, July 29th. The pharmaceutical company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $0.86. Vertex Pharmaceuticals had a net margin of 29.80% and a return on equity of 29.73%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.71 billion. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 10.83 EPS for the current fiscal year.
In related news, CEO Reshma Kewalramani bought 10,000 shares of the stock in a transaction that occurred on Thursday, August 19th. The stock was purchased at an average cost of $195.65 per share, for a total transaction of $1,956,500.00. Following the completion of the acquisition, the chief executive officer now owns 69,511 shares in the company, valued at $13,599,827.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.
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