Synovus Financial Corp lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 394.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,319 shares of the pharmaceutical company’s stock after purchasing an additional 9,028 shares during the period. Synovus Financial Corp’s holdings in Vertex Pharmaceuticals were worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of Vertex Pharmaceuticals by 42.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock valued at $688,443,000 after purchasing an additional 1,199,700 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Vertex Pharmaceuticals by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,087,508 shares of the pharmaceutical company’s stock valued at $354,794,000 after purchasing an additional 82,811 shares in the last quarter. Fred Alger Management Inc. increased its stake in shares of Vertex Pharmaceuticals by 10.8% in the 2nd quarter. Fred Alger Management Inc. now owns 1,960,493 shares of the pharmaceutical company’s stock valued at $333,205,000 after purchasing an additional 191,072 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Vertex Pharmaceuticals by 10.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,839,645 shares of the pharmaceutical company’s stock valued at $354,574,000 after purchasing an additional 176,093 shares in the last quarter. Finally, Putnam Investments LLC increased its stake in shares of Vertex Pharmaceuticals by 2.3% in the 2nd quarter. Putnam Investments LLC now owns 1,751,760 shares of the pharmaceutical company’s stock valued at $297,730,000 after purchasing an additional 39,166 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.
VRTX has been the subject of several recent analyst reports. Argus lifted their price target on Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Citigroup lifted their price target on Vertex Pharmaceuticals from $203.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Royal Bank of Canada reiterated a “buy” rating and set a $203.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 26th. Finally, Jefferies Financial Group boosted their price objective on Vertex Pharmaceuticals to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $202.14.
In other news, EVP Stuart A. Arbuckle sold 2,155 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $175.36, for a total transaction of $377,900.80. Following the transaction, the executive vice president now directly owns 48,907 shares in the company, valued at approximately $8,576,331.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas Graney sold 1,076 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $193.24, for a total value of $207,926.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,299 shares of company stock worth $4,379,816. Insiders own 0.75% of the company’s stock.
NASDAQ:VRTX opened at $174.59 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $136.50 and a 12 month high of $194.92. The company has a quick ratio of 3.59, a current ratio of 3.71 and a debt-to-equity ratio of 0.01. The company has a market cap of $44.29 billion, a price-to-earnings ratio of 218.24, a PEG ratio of 1.72 and a beta of 1.61.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $784.54 million during the quarter, compared to analyst estimates of $782.95 million. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current year.
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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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