Renaissance Technologies LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,566,388 shares of the pharmaceutical company’s stock after selling 14,100 shares during the quarter. Vertex Pharmaceuticals accounts for 1.2% of Renaissance Technologies LLC’s investment portfolio, making the stock its 4th largest position. Renaissance Technologies LLC owned approximately 0.61% of Vertex Pharmaceuticals worth $734,197,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in the stock. Groesbeck Investment Management Corp NJ increased its holdings in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after acquiring an additional 22 shares in the last quarter. RFP Financial Group LLC increased its holdings in Vertex Pharmaceuticals by 17.0% during the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after acquiring an additional 23 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Vertex Pharmaceuticals Trading Up 1.4 %
Shares of VRTX stock opened at $485.37 on Monday. The stock has a market cap of $125.25 billion, a price-to-earnings ratio of 31.50 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The firm’s 50 day moving average price is $483.72 and its two-hundred day moving average price is $450.41.
Wall Street Analyst Weigh In
Several research firms have weighed in on VRTX. BMO Capital Markets raised their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Argus lifted their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $485.91.
Get Our Latest Research Report on Vertex Pharmaceuticals
Insider Transactions at Vertex Pharmaceuticals
In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock valued at $16,843,806. Corporate insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Company 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.
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