Regent Investment Management LLC Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, July 30th. The pharmaceutical company reported $2.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.86. Vertex Pharmaceuticals had a return on equity of 30.45% and a net margin of 38.51%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 7.33 EPS for the current fiscal year.

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

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