Tocqueville Asset Management L.P. grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,015 shares of the pharmaceutical company’s stock after buying an additional 2,775 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Vertex Pharmaceuticals were worth $7,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Highbridge Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $2,742,000. Renaissance Technologies LLC raised its holdings in shares of Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Renaissance Technologies LLC now owns 4,089,117 shares of the pharmaceutical company’s stock worth $788,136,000 after acquiring an additional 38,500 shares during the last quarter. GAM Holding AG raised its holdings in shares of Vertex Pharmaceuticals by 62.2% in the 3rd quarter. GAM Holding AG now owns 10,703 shares of the pharmaceutical company’s stock worth $2,063,000 after acquiring an additional 4,103 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 594,727 shares of the pharmaceutical company’s stock worth $114,627,000 after acquiring an additional 16,288 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vertex Pharmaceuticals by 36.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,700 shares of the pharmaceutical company’s stock worth $9,145,000 after acquiring an additional 12,772 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

In other news, SVP Paul M. Silva sold 809 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $186.52, for a total transaction of $150,894.68. Following the completion of the transaction, the senior vice president now directly owns 16,896 shares of the company’s stock, valued at approximately $3,151,441.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 2,125 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $181.89, for a total transaction of $386,516.25. Following the transaction, the executive vice president now directly owns 48,877 shares of the company’s stock, valued at $8,890,237.53. The disclosure for this sale can be found here. Insiders sold a total of 28,346 shares of company stock valued at $5,264,953 over the last ninety days. 1.80% of the stock is currently owned by insiders.

VRTX has been the topic of a number of analyst reports. Argus upped their target price on shares of Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a report on Tuesday, August 28th. They noted that the move was a valuation call. Raymond James initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, October 2nd. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a report on Thursday, August 23rd. JPMorgan Chase & Co. restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 24th. Finally, HC Wainwright upgraded shares of 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. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Vertex Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $201.14.

Shares of VRTX stock opened at $172.21 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $139.11 and a 52-week high of $194.92. The company has a quick ratio of 3.59, a current ratio of 3.71 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $45.90 billion, a price-to-earnings ratio of 215.26, a PEG ratio of 1.78 and a beta of 1.65.

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

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Vertex Pharmaceuticals 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.

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

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