GSA Capital Partners LLP lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 42.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,355 shares of the pharmaceutical company’s stock after selling 9,087 shares during the period. GSA Capital Partners LLP’s holdings in Vertex Pharmaceuticals were worth $2,381,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of VRTX. Advisory Services Network LLC boosted its stake in Vertex Pharmaceuticals by 29.7% in the 2nd quarter. Advisory Services Network LLC now owns 6,036 shares of the pharmaceutical company’s stock worth $1,062,000 after purchasing an additional 1,383 shares during the period. Aperio Group LLC boosted its stake in Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Aperio Group LLC now owns 110,780 shares of the pharmaceutical company’s stock worth $18,828,000 after purchasing an additional 2,203 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 3.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 33,380 shares of the pharmaceutical company’s stock worth $5,673,000 after purchasing an additional 986 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Vertex Pharmaceuticals by 1.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,914 shares of the pharmaceutical company’s stock worth $3,044,000 after purchasing an additional 325 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in Vertex Pharmaceuticals by 6.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,458 shares of the pharmaceutical company’s stock worth $1,777,000 after purchasing an additional 591 shares during the period. Hedge funds and other institutional investors own 94.95% of the company’s stock.
Shares of NASDAQ VRTX opened at $180.79 on Friday. The stock has a market cap of $45.86 billion, a P/E ratio of 225.99, a PEG ratio of 1.78 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.71. Vertex Pharmaceuticals Incorporated has a 1-year low of $136.50 and a 1-year high of $194.92.
Several research analysts have commented on VRTX shares. Argus raised their target price on Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Raymond James assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, October 2nd. They issued a “buy” rating on the stock. Stifel Nicolaus raised their price target on Vertex Pharmaceuticals from $182.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a report on Thursday, August 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 24th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $201.14.
In related news, CFO Thomas Graney sold 1,076 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $193.24, for a total transaction of $207,926.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sangeeta N. Bhatia sold 6,818 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $192.13, for a total value of $1,309,942.34. Following the transaction, the director now directly owns 6,997 shares in the company, valued at $1,344,333.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,537 shares of company stock worth $5,114,059. 1.80% of the stock is currently owned by insiders.
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Vertex Pharmaceuticals Company 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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