Zurcher Kantonalbank Zurich Cantonalbank Buys 160,264 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 126.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 286,567 shares of the pharmaceutical company’s stock after acquiring an additional 160,264 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Vertex Pharmaceuticals worth $74,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Norges Bank bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $588,506,000. Alliancebernstein L.P. boosted its position in shares of Vertex Pharmaceuticals by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 10,443,771 shares of the pharmaceutical company’s stock worth $2,293,452,000 after purchasing an additional 1,374,923 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $202,855,000. Lazard Asset Management LLC boosted its position in shares of Vertex Pharmaceuticals by 451.9% in the 4th quarter. Lazard Asset Management LLC now owns 915,720 shares of the pharmaceutical company’s stock worth $201,090,000 after purchasing an additional 749,784 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of Vertex Pharmaceuticals by 159.0% in the 4th quarter. Epoch Investment Partners Inc. now owns 819,848 shares of the pharmaceutical company’s stock worth $180,038,000 after purchasing an additional 503,347 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VRTX traded up $2.29 during trading on Friday, reaching $284.08. 24,151 shares of the company traded hands, compared to its average volume of 1,738,963. The firm’s fifty day simple moving average is $264.49 and its 200 day simple moving average is $249.07. The stock has a market cap of $72.66 billion, a P/E ratio of 29.66, a PEG ratio of 2.16 and a beta of 0.55. Vertex Pharmaceuticals Incorporated has a 12-month low of $176.36 and a 12-month high of $293.17. The company has a current ratio of 4.75, a quick ratio of 4.60 and a debt-to-equity ratio of 0.05.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The pharmaceutical company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.01). The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Vertex Pharmaceuticals had a net margin of 30.84% and a return on equity of 32.24%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.54 EPS. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 12.47 EPS for the current year.

In related news, Chairman Jeffrey M. Leiden sold 15,789 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $289.04, for a total value of $4,563,652.56. Following the completion of the transaction, the chairman now owns 74,160 shares in the company, valued at approximately $21,435,206.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joy Liu sold 120 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $275.41, for a total value of $33,049.20. Following the completion of the transaction, the senior vice president now owns 14,334 shares of the company’s stock, valued at approximately $3,947,726.94. The disclosure for this sale can be found here. Insiders have sold a total of 40,790 shares of company stock valued at $11,637,690 in the last quarter. Company insiders own 0.40% of the company’s stock.

A number of research firms have recently weighed in on VRTX. Morgan Stanley raised Vertex Pharmaceuticals from an “underweight” rating to an “equal weight” rating and set a $250.00 price objective for the company in a research report on Tuesday, May 3rd. UBS Group raised their price objective on Vertex Pharmaceuticals from $258.00 to $325.00 in a research report on Wednesday, April 13th. Wells Fargo & Company raised their price objective on Vertex Pharmaceuticals from $300.00 to $305.00 in a research report on Friday, May 6th. Cowen raised their price objective on Vertex Pharmaceuticals from $305.00 to $310.00 in a research report on Monday, June 13th. Finally, Argus raised their price objective on Vertex Pharmaceuticals from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, June 13th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $282.61.

Vertex Pharmaceuticals Profile (Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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