Van ECK Associates Corp Sells 104,719 Shares of Vertex Pharmaceuticals Incorporated (VRTX)
Van ECK Associates Corp reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,145 shares of the pharmaceutical company’s stock after selling 104,719 shares during the period. Van ECK Associates Corp owned about 0.09% of Vertex Pharmaceuticals worth $29,917,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its position in shares of Vertex Pharmaceuticals by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after purchasing an additional 6 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Vertex Pharmaceuticals by 15.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after purchasing an additional 132 shares in the last quarter. FNY Partners Fund LP lifted its position in shares of Vertex Pharmaceuticals by 900.0% during the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after purchasing an additional 900 shares in the last quarter. Dupont Capital Management Corp acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth $186,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth $197,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on VRTX shares. Cowen and Company reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. Jefferies Group LLC started coverage on shares of Vertex Pharmaceuticals in a research report on Monday, July 10th. They set a “buy” rating and a $155.00 target price on the stock. Credit Suisse Group boosted their target price on shares of Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. BidaskClub cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, Maxim Group set a $195.00 price target on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $163.35.
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In other news, EVP Stuart A. Arbuckle sold 2,125 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $152.99, for a total value of $325,103.75. Following the completion of the sale, the executive vice president now directly owns 123,242 shares in the company, valued at $18,854,793.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey M. Leiden sold 216,624 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $160.96, for a total value of $34,867,799.04. Following the completion of the sale, the chief executive officer now owns 400,266 shares of the company’s stock, valued at $64,426,815.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 518,358 shares of company stock valued at $83,072,822. Company insiders own 1.80% of the company’s stock.
Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 152.435 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $167.86. The company has a market cap of $38.43 billion, a price-to-earnings ratio of 146.431 and a beta of 1.75. The company has a 50-day moving average of $154.59 and a 200-day moving average of $128.58.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million during the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The business’s revenue was up 26.1% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post $1.62 EPS for the current year.
About Vertex Pharmaceuticals
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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