Smith Asset Management Group LP bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, Holdings Channel reports. The institutional investor bought 191,080 shares of the pharmaceutical company’s stock, valued at approximately $24,624,000.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in Vertex Pharmaceuticals by 2,699.4% in the first quarter. BlackRock Inc. now owns 19,246,380 shares of the pharmaceutical company’s stock valued at $2,104,591,000 after buying an additional 18,558,874 shares during the last quarter. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,474,890 shares of the pharmaceutical company’s stock valued at $1,801,530,000 after buying an additional 560,796 shares during the last quarter. State Street Corp increased its position in Vertex Pharmaceuticals by 2.0% in the first quarter. State Street Corp now owns 12,013,178 shares of the pharmaceutical company’s stock valued at $1,313,647,000 after buying an additional 239,017 shares during the last quarter. Clearbridge Investments LLC increased its position in Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock valued at $957,317,000 after buying an additional 105,260 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Vertex Pharmaceuticals by 8.9% in the first quarter. Geode Capital Management LLC now owns 2,339,821 shares of the pharmaceutical company’s stock valued at $255,483,000 after buying an additional 191,154 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at 148.54 on Friday. The company has a 50-day moving average price of $143.33 and a 200-day moving average price of $114.93. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.86. The firm has a market cap of $37.45 billion, a PE ratio of 142.69 and a beta of 1.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. During the same period in the previous year, the business earned $0.24 EPS. The company’s revenue was up 26.1% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current fiscal year.

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VRTX has been the subject of several research analyst reports. Vetr raised Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price objective for the company in a research note on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $185.00 price objective (up from $155.00) on shares of Vertex Pharmaceuticals in a research note on Wednesday, July 19th. Credit Suisse Group raised their price objective on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 19th. Robert W. Baird raised their price objective on Vertex Pharmaceuticals from $115.00 to $136.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Finally, UBS AG downgraded Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and raised their price objective for the company from $135.00 to $174.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $162.88.

In other news, Director Sangeeta N. Bhatia sold 1,176 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $128.44, for a total transaction of $151,045.44. Following the transaction, the director now directly owns 5,129 shares in the company, valued at approximately $658,768.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Leiden sold 147,101 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $129.50, for a total transaction of $19,049,579.50. Following the transaction, the chief executive officer now owns 312,142 shares in the company, valued at $40,422,389. The disclosure for this sale can be found here. Over the last three months, insiders have sold 751,042 shares of company stock worth $113,078,257. Company insiders own 1.80% of the company’s stock.

Vertex Pharmaceuticals Company 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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