State of Alaska Department of Revenue Has $7.43 Million Stake in Vertex Pharmaceuticals Incorporated (VRTX)

State of Alaska Department of Revenue cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,382 shares of the pharmaceutical company’s stock after selling 630 shares during the quarter. State of Alaska Department of Revenue’s holdings in Vertex Pharmaceuticals were worth $7,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Resources Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $27,000. We Are One Seven LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $32,000. Berman Capital Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $35,000. Sontag Advisory LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $36,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $41,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 32,250 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $186.35, for a total transaction of $6,009,787.50. Following the completion of the transaction, the chief executive officer now directly owns 155,815 shares of the company’s stock, valued at $29,036,125.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 111,431 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $180.24, for a total value of $20,084,323.44. Following the transaction, the chief executive officer now directly owns 223,916 shares of the company’s stock, valued at $40,358,619.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,749 shares of company stock valued at $38,583,925. 0.75% of the stock is owned by corporate insiders.

Several brokerages have recently commented on VRTX. Zacks Investment Research raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. BidaskClub raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. Leerink Swann downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $185.40 price objective for the company. in a research note on Tuesday, March 19th. They noted that the move was a valuation call. Svb Leerink reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, March 19th. Finally, BMO Capital Markets upped their target price on Vertex Pharmaceuticals to $234.00 and gave the company an “outperform” rating in a report on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $204.44.

VRTX stock opened at $190.37 on Thursday. The company has a market capitalization of $48.14 billion, a PE ratio of 67.27, a price-to-earnings-growth ratio of 2.76 and a beta of 1.64. Vertex Pharmaceuticals Incorporated has a 12-month low of $144.07 and a 12-month high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. The business had revenue of $870.11 million during the quarter, compared to analyst estimates of $818.29 million. During the same period in the prior year, the company earned $0.61 earnings per share. Vertex Pharmaceuticals’s revenue was up 33.5% compared to the same quarter last year. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.04 EPS for the current year.

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Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated 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.

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

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