Tocqueville Asset Management L.P. Has $4,906,000 Stake in Vertex Pharmaceuticals Inc. (VRTX)
Tocqueville Asset Management L.P. decreased its position in Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 57,031 shares of the pharmaceutical company’s stock after selling 1,100 shares during the period. Tocqueville Asset Management L.P.’s holdings in Vertex Pharmaceuticals were worth $4,906,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 23.1% in the first quarter. Lazard Asset Management LLC now owns 960,230 shares of the pharmaceutical company’s stock valued at $76,327,000 after buying an additional 180,389 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Vertex Pharmaceuticals by 52.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 506,039 shares of the pharmaceutical company’s stock valued at $43,529,000 after buying an additional 174,774 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $14,876,000. Canada Pension Plan Investment Board boosted its stake in shares of Vertex Pharmaceuticals by 89.5% in the first quarter. Canada Pension Plan Investment Board now owns 201,733 shares of the pharmaceutical company’s stock valued at $16,036,000 after buying an additional 95,300 shares during the last quarter. Finally, Sector Gamma AS boosted its stake in shares of Vertex Pharmaceuticals by 78.5% in the first quarter. Sector Gamma AS now owns 208,243 shares of the pharmaceutical company’s stock valued at $16,553,000 after buying an additional 91,610 shares during the last quarter. Institutional investors own 96.17% of the company’s stock.
Shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded down 1.10% on Wednesday, hitting $82.05. The company had a trading volume of 1,071,833 shares. The company has a 50-day moving average of $89.43 and a 200 day moving average of $89.94. Vertex Pharmaceuticals Inc. has a 12 month low of $75.90 and a 12 month high of $134.71. The stock’s market cap is $20.33 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. During the same quarter in the prior year, the firm earned ($0.54) EPS. The company’s revenue for the quarter was up 159.9% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current fiscal year.
VRTX has been the topic of several analyst reports. Vetr upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $94.50 price objective on the stock in a research note on Monday, June 27th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 7th. Leerink Swann reiterated an “outperform” rating and issued a $113.00 price objective (up from $104.00) on shares of Vertex Pharmaceuticals in a research note on Thursday, July 28th. Finally, Morgan Stanley dropped their target price on Vertex Pharmaceuticals from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $117.60.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 47,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $100.66, for a total value of $4,731,020.00. Following the completion of the transaction, the director now owns 274,725 shares in the company, valued at approximately $27,653,818.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joshua S. Boger sold 900 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $100.19, for a total transaction of $90,171.00. Following the completion of the transaction, the director now owns 268,225 shares of the company’s stock, valued at approximately $26,873,462.75. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
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.
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 Inc. (NASDAQ:VRTX).
Receive News & Ratings for Vertex Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.