Public Sector Pension Investment Board Has $8.78 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Public Sector Pension Investment Board boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,418 shares of the pharmaceutical company’s stock after acquiring an additional 2,744 shares during the quarter. Public Sector Pension Investment Board’s holdings in Vertex Pharmaceuticals were worth $8,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chesapeake Asset Management LLC lifted its holdings in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Total Investment Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $33,000. Finally, Financial Network Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, CAO Kristen Ambrose sold 1,376 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $633,551.68. Following the transaction, the chief accounting officer directly owned 10,127 shares in the company, valued at $4,662,774.61. This trade represents a 11.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark E. Bunnage sold 2,021 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $930,529.03. Following the completion of the sale, the executive vice president owned 12,914 shares of the company’s stock, valued at $5,945,993.02. This represents a 13.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 99,352 shares of company stock worth $45,037,314. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Up 5.7%

Vertex Pharmaceuticals stock opened at $491.47 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The company has a market cap of $124.70 billion, a PE ratio of 32.06 and a beta of 0.30. The company’s 50-day moving average is $460.97 and its two-hundred day moving average is $427.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRTX shares. UBS Group raised their price target on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $590.00 price target on shares of Vertex Pharmaceuticals in a report on Friday. Evercore upped their price target on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $478.00 to $518.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $537.05.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.