Pacer Advisors Inc. Acquires 26,543 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Pacer Advisors Inc. raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 66.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,501 shares of the pharmaceutical company’s stock after purchasing an additional 26,543 shares during the period. Pacer Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $26,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of VRTX. United Services Automobile Association bought a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $2,933,000. Lee Johnson Capital Management LLC purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $721,000. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Vertex Pharmaceuticals by 3.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after purchasing an additional 1,393 shares during the period. Bailard Inc. increased its position in shares of Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after purchasing an additional 200 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $10,059,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman directly owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 151,073 shares of company stock worth $67,326,816. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Trading Down 0.0%

NASDAQ:VRTX opened at $462.90 on Friday. The stock has a 50-day moving average price of $435.77 and a 200 day moving average price of $426.54. The stock has a market capitalization of $117.45 billion, a P/E ratio of 32.64 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.38 EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on VRTX. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Evercore ISI decreased their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. Finally, Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $498.42.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.