Fortaleza Asset Management Inc. Purchases New Stake in Vertex Pharmaceuticals Incorporated (VRTX)

Fortaleza Asset Management Inc. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,615 shares of the pharmaceutical company’s stock, valued at approximately $398,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Vertex Pharmaceuticals by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,504 shares of the pharmaceutical company’s stock worth $2,385,000 after buying an additional 75 shares in the last quarter. Buckingham Asset Management LLC increased its position in Vertex Pharmaceuticals by 3.6% during the second quarter. Buckingham Asset Management LLC now owns 2,265 shares of the pharmaceutical company’s stock worth $292,000 after buying an additional 79 shares in the last quarter. Eqis Capital Management Inc. increased its position in Vertex Pharmaceuticals by 0.6% during the second quarter. Eqis Capital Management Inc. now owns 14,549 shares of the pharmaceutical company’s stock worth $1,875,000 after buying an additional 83 shares in the last quarter. Grandfield & Dodd LLC increased its position in Vertex Pharmaceuticals by 1.6% during the second quarter. Grandfield & Dodd LLC now owns 5,805 shares of the pharmaceutical company’s stock worth $748,000 after buying an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Vertex Pharmaceuticals by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the pharmaceutical company’s stock worth $1,985,000 after buying an additional 100 shares in the last quarter. 93.36% of the stock is owned by institutional investors.

In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 1,289 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $151.80, for a total transaction of $195,670.20. Following the completion of the sale, the senior vice president now directly owns 17,923 shares in the company, valued at $2,720,711.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ian F. Smith sold 2,125 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $155.61, for a total transaction of $330,671.25. Following the sale, the chief operating officer now owns 118,013 shares of the company’s stock, valued at $18,364,002.93. The disclosure for this sale can be found here. Insiders sold 29,700 shares of company stock valued at $4,586,808 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

VRTX has been the subject of several recent research reports. Vetr raised Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price target for the company in a research report on Tuesday, July 18th. Maxim Group reissued a “buy” rating and set a $195.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. Royal Bank Of Canada initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, September 14th. They set an “outperform” rating and a $175.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $185.00 price target (up previously from $155.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, July 19th. Finally, Credit Suisse Group raised their price target on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $169.74.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 3.70% on Tuesday, hitting $144.00. The company’s stock had a trading volume of 1,351,030 shares. The stock’s 50 day moving average price is $152.52 and its 200 day moving average price is $139.47. The stock has a market capitalization of $36.30 billion, a P/E ratio of 138.33 and a beta of 1.73. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. The firm had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. Vertex Pharmaceuticals’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.73 earnings per share for the current fiscal year.

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Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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

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