Van ECK Associates Corp Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Van ECK Associates Corp increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,428 shares of the pharmaceutical company’s stock after purchasing an additional 6,588 shares during the quarter. Van ECK Associates Corp owned approximately 0.06% of Vertex Pharmaceuticals worth $71,179,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $31,000. Finally, Founders Capital Management increased its holdings in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $471.12 on Monday. The company’s fifty day moving average price is $474.53 and its 200-day moving average price is $465.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The firm has a market capitalization of $121.60 billion, a price-to-earnings ratio of -232.08 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned $3.53 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRTX shares. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Scotiabank began coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $492.50.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.