Regent Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 700 shares of the pharmaceutical company’s stock, valued at approximately $203,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. OmniStar Financial Group Inc. purchased a new position in Vertex Pharmaceuticals in the first quarter valued at about $26,000. CX Institutional increased its holdings in Vertex Pharmaceuticals by 103.8% during the 1st quarter. CX Institutional now owns 108 shares of the pharmaceutical company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $28,000. Manchester Financial Inc. bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $30,000. Finally, Anderson Fisher LLC increased its holdings in Vertex Pharmaceuticals by 530.0% during the 2nd quarter. Anderson Fisher LLC now owns 126 shares of the pharmaceutical company’s stock worth $37,000 after acquiring an additional 106 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.
Shares of VRTX opened at $272.00 on Friday. The stock has a market capitalization of $72.44 billion, a P/E ratio of 40.61, a PEG ratio of 1.35 and a beta of 0.94. The company has a quick ratio of 3.42, a current ratio of 3.54 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $287.06 and a two-hundred day simple moving average of $257.51. Vertex Pharmaceuticals Incorporated has a twelve month low of $165.23 and a twelve month high of $306.08.
In related news, CFO Charles F. Wagner, Jr. sold 700 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $293.15, for a total value of $205,205.00. Following the sale, the chief financial officer now owns 16,786 shares in the company, valued at approximately $4,920,815.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stuart A. Arbuckle sold 2,786 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $300.00, for a total value of $835,800.00. Following the completion of the sale, the executive vice president now owns 36,743 shares in the company, valued at approximately $11,022,900. The disclosure for this sale can be found here. Insiders sold a total of 298,911 shares of company stock worth $82,787,831 in the last 90 days. 0.70% of the stock is currently owned by company insiders.
VRTX has been the topic of a number of analyst reports. Cantor Fitzgerald upped their target price on shares of Vertex Pharmaceuticals from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday. BMO Capital Markets increased their price target on shares of Vertex Pharmaceuticals from $279.00 to $283.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Citigroup increased their price target on shares of Vertex Pharmaceuticals from $305.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Morgan Stanley lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $277.00 to $300.00 in a report on Wednesday, July 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their price target on shares of Vertex Pharmaceuticals from $298.00 to $328.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $295.81.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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