Fred Alger Management Inc. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,363,601 shares of the pharmaceutical company’s stock after selling 246,296 shares during the period. Fred Alger Management Inc. owned about 0.55% of Vertex Pharmaceuticals worth $100,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. A.R.T. Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 229.1% in the fourth quarter. A.R.T. Advisors LLC now owns 36,200 shares of the pharmaceutical company’s stock worth $2,666,000 after buying an additional 25,200 shares during the period. Intact Investment Management Inc. increased its position in shares of Vertex Pharmaceuticals by 10.6% in the fourth quarter. Intact Investment Management Inc. now owns 7,300 shares of the pharmaceutical company’s stock worth $538,000 after buying an additional 700 shares during the period. AMF Pensionsforsakring AB purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $22,133,000. Zurich Insurance Group Ltd FI increased its position in shares of Vertex Pharmaceuticals by 12.2% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 47,810 shares of the pharmaceutical company’s stock worth $3,522,000 after buying an additional 5,181 shares during the period. Finally, Arrowpoint Asset Management LLC increased its position in shares of Vertex Pharmaceuticals by 35.1% in the fourth quarter. Arrowpoint Asset Management LLC now owns 5,250 shares of the pharmaceutical company’s stock worth $387,000 after buying an additional 1,364 shares during the period. 94.85% of the stock is owned by institutional investors.

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

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 1.87% during trading on Thursday, hitting $87.70. 1,322,193 shares of the stock traded hands. The company’s market cap is $21.78 billion. Vertex Pharmaceuticals Incorporated has a 1-year low of $71.46 and a 1-year high of $103.73. The stock has a 50-day moving average of $83.61 and a 200 day moving average of $86.66.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, January 25th. The pharmaceutical company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Vertex Pharmaceuticals had a negative net margin of 6.76% and a negative return on equity of 2.15%. The firm earned $458.71 million during the quarter, compared to analyst estimates of $453.40 million. During the same quarter in the prior year, the business posted $0.17 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post $1.67 EPS for the current fiscal year.

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A number of brokerages have recently commented on VRTX. Cowen and Company set a $75.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “hold” rating in a research report on Saturday, February 11th. Robert W. Baird restated a “positive” rating on shares of Vertex Pharmaceuticals in a research note on Friday, February 10th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, February 3rd. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st. Finally, Vetr upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $94.83 target price for the company in a research note on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $100.94.

In related news, Director Joshua S. Boger sold 8,000 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $82.48, for a total transaction of $659,840.00. Following the completion of the transaction, the director now owns 276,225 shares in the company, valued at $22,783,038. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $83.48, for a total transaction of $542,620.00. Following the transaction, the director now owns 274,725 shares of the company’s stock, valued at approximately $22,934,043. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,000 shares of company stock valued at $3,734,925. Company insiders own 1.90% of the company’s stock.

About Vertex Pharmaceuticals

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.

5 Day Chart for NASDAQ:VRTX

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