Cullinan Associates Inc. boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,273 shares of the pharmaceutical company’s stock after acquiring an additional 5,472 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.6% of Cullinan Associates Inc.’s portfolio, making the stock its 8th biggest holding. Cullinan Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $19,433,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Capital International Investors acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at $553,534,000. Capital Research Global Investors acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at $511,728,000. FMR LLC grew its holdings in Vertex Pharmaceuticals by 10.5% in the third quarter. FMR LLC now owns 18,071,478 shares of the pharmaceutical company’s stock valued at $3,483,097,000 after purchasing an additional 1,714,071 shares during the last quarter. Jennison Associates LLC grew its holdings in Vertex Pharmaceuticals by 22.5% in the third quarter. Jennison Associates LLC now owns 6,202,493 shares of the pharmaceutical company’s stock valued at $1,195,468,000 after purchasing an additional 1,139,486 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Vertex Pharmaceuticals by 3.2% in the third quarter. BlackRock Inc. now owns 19,935,843 shares of the pharmaceutical company’s stock valued at $3,842,436,000 after purchasing an additional 625,328 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.
Several analysts have weighed in on the company. BidaskClub raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 price objective on the stock. in a research note on Wednesday, January 2nd. Zacks Investment Research reaffirmed a “buy” rating and set a $191.00 price objective on shares of Vertex Pharmaceuticals in a research note on Saturday, November 17th. BMO Capital Markets decreased their price objective on Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $217.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $200.61.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. The firm had revenue of $784.54 million for the quarter, compared to analyst estimates of $782.95 million. During the same period last year, the company earned $0.53 EPS. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current fiscal year.
In other news, EVP Michael Parini sold 4,250 shares of the firm’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $165.90, for a total value of $705,075.00. Following the transaction, the executive vice president now directly owns 43,859 shares in the company, valued at approximately $7,276,208.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Altshuler sold 4,126 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $173.51, for a total value of $715,902.26. Following the completion of the transaction, the executive vice president now owns 40,909 shares in the company, valued at $7,098,120.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,577 shares of company stock worth $2,354,629. 0.75% of the stock is owned by corporate insiders.
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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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