Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.5% in the third quarter, HoldingsChannel reports. The firm owned 79,885 shares of the pharmaceutical company’s stock after buying an additional 1,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Vertex Pharmaceuticals were worth $15,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC grew its stake in Vertex Pharmaceuticals by 42.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock valued at $688,443,000 after purchasing an additional 1,199,700 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Vertex Pharmaceuticals by 3.1% during the 3rd quarter. Wells Fargo & Company MN now owns 2,151,713 shares of the pharmaceutical company’s stock worth $414,720,000 after buying an additional 64,205 shares during the last quarter. Fred Alger Management Inc. lifted its holdings in Vertex Pharmaceuticals by 10.8% during the 2nd quarter. Fred Alger Management Inc. now owns 1,960,493 shares of the pharmaceutical company’s stock worth $333,205,000 after buying an additional 191,072 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Vertex Pharmaceuticals by 10.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,839,645 shares of the pharmaceutical company’s stock worth $354,574,000 after buying an additional 176,093 shares during the last quarter. Finally, Putnam Investments LLC lifted its holdings in Vertex Pharmaceuticals by 2.3% during the 2nd quarter. Putnam Investments LLC now owns 1,751,760 shares of the pharmaceutical company’s stock worth $297,730,000 after buying an additional 39,166 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

In related news, EVP Michael Parini sold 4,250 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $191.58, for a total value of $814,215.00. Following the sale, the executive vice president now owns 43,859 shares of the company’s stock, valued at approximately $8,402,507.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Altshuler sold 2,125 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the sale, the executive vice president now directly owns 41,238 shares in the company, valued at approximately $7,500,779.82. The disclosure for this sale can be found here. In the last three months, insiders sold 29,550 shares of company stock worth $5,482,235. Company insiders own 1.80% of the company’s stock.

Shares of NASDAQ VRTX opened at $180.55 on Friday. The company has a market capitalization of $46.99 billion, a P/E ratio of 82.09, a P/E/G ratio of 1.82 and a beta of 1.61. Vertex Pharmaceuticals Incorporated has a 12-month low of $136.50 and a 12-month high of $194.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.71.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. The business had revenue of $784.54 million for the quarter, compared to the consensus estimate of $782.95 million. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. During the same quarter last year, the business posted $0.53 EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current year.

A number of research firms have commented on VRTX. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Piper Jaffray Companies reduced their target price on Vertex Pharmaceuticals to $217.00 and set an “overweight” rating on the stock in a report on Friday, October 26th. BMO Capital Markets reduced their target price on Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. HC Wainwright raised Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Friday, October 26th. Finally, Raymond James set a $201.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 25th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $202.14.

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Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

See Also: Buyback

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

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