Korea Investment CORP increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11,816.0% during the second quarter, Holdings Channel reports. The firm owned 113,202 shares of the pharmaceutical company’s stock after buying an additional 112,252 shares during the period. Korea Investment CORP’s holdings in Vertex Pharmaceuticals were worth $14,588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Welch & Forbes LLC increased its position in shares of Vertex Pharmaceuticals by 0.4% in the second quarter. Welch & Forbes LLC now owns 186,425 shares of the pharmaceutical company’s stock worth $24,024,000 after buying an additional 651 shares during the period. Candriam Luxembourg S.C.A. increased its position in shares of Vertex Pharmaceuticals by 17.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 273,420 shares of the pharmaceutical company’s stock worth $35,237,000 after buying an additional 40,853 shares during the period. Sei Investments Co. increased its position in shares of Vertex Pharmaceuticals by 47.6% in the second quarter. Sei Investments Co. now owns 97,450 shares of the pharmaceutical company’s stock worth $12,558,000 after buying an additional 31,434 shares during the period. Essex Investment Management Co. LLC increased its position in shares of Vertex Pharmaceuticals by 49.9% in the second quarter. Essex Investment Management Co. LLC now owns 57,213 shares of the pharmaceutical company’s stock worth $7,373,000 after buying an additional 19,050 shares during the period. Finally, Ingalls & Snyder LLC increased its position in shares of Vertex Pharmaceuticals by 32.4% in the second quarter. Ingalls & Snyder LLC now owns 3,270 shares of the pharmaceutical company’s stock worth $421,000 after buying an additional 800 shares during the period. Institutional investors own 93.13% of the company’s stock.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 156.47 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $71.46 and a 1-year high of $167.85. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 150.31 and a beta of 1.77. The firm has a 50-day moving average price of $137.73 and a 200-day moving average price of $111.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.59 EPS for the current year.

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Several research analysts have weighed in on the company. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Cowen and Company restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 1st. Argus upped their price target on Vertex Pharmaceuticals from $71.46 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Vetr upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $181.00 price target for the company in a research note on Monday, July 31st. Finally, TheStreet downgraded Vertex Pharmaceuticals from a “b-” rating to a “c+” rating in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus target price of $162.88.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 43,443 shares of Vertex Pharmaceuticals stock in a transaction on Friday, July 21st. The stock was sold at an average price of $161.07, for a total value of $6,997,364.01. Following the sale, the senior vice president now owns 26,516 shares in the company, valued at $4,270,932.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul M. Silva sold 2,577 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total value of $343,668.72. Following the completion of the sale, the senior vice president now owns 22,648 shares in the company, valued at approximately $3,020,337.28. The disclosure for this sale can be found here. Insiders have sold 745,503 shares of company stock worth $112,220,787 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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

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