MQS Management LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) in the 1st quarter, HoldingsChannel.com reports. The firm bought 961 shares of the pharmaceutical company’s stock, valued at approximately $402,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Telos Capital Management Inc. lifted its position in Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after buying an additional 237 shares in the last quarter. Brookstone Capital Management lifted its position in Vertex Pharmaceuticals by 11.1% during the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after buying an additional 237 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Vertex Pharmaceuticals by 15.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,897 shares of the pharmaceutical company’s stock worth $12,497,000 after buying an additional 3,999 shares in the last quarter. ARK Investment Management LLC lifted its position in Vertex Pharmaceuticals by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock worth $50,535,000 after buying an additional 8,866 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its position in Vertex Pharmaceuticals by 216.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after buying an additional 3,303 shares in the last quarter. 90.96% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Stock Performance
Vertex Pharmaceuticals stock traded up $1.46 during mid-day trading on Thursday, hitting $492.26. 988,617 shares of the company’s stock traded hands, compared to its average volume of 1,210,873. The firm has a 50 day simple moving average of $473.18 and a two-hundred day simple moving average of $436.76. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $340.20 and a fifty-two week high of $503.99. The stock has a market cap of $127.03 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 2.52 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29.
Insider Buying and Selling at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The disclosure for this sale can be found here. Insiders sold 48,128 shares of company stock valued at $22,839,005 in the last quarter. 0.20% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Royal Bank of Canada cut their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Guggenheim upped their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. HC Wainwright upped their price target on Vertex Pharmaceuticals from $462.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $460.30.
View Our Latest Stock Analysis on Vertex Pharmaceuticals
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.
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