Van ECK Associates Corp Has $64.14 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Van ECK Associates Corp boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,269 shares of the pharmaceutical company’s stock after buying an additional 7,841 shares during the quarter. Van ECK Associates Corp’s holdings in Vertex Pharmaceuticals were worth $64,138,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of VRTX. Edgewood Management LLC boosted its stake in Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $435,899,000. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after buying an additional 851,054 shares in the last quarter. Wellington Management Group LLP boosted its stake in Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after buying an additional 704,421 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Vertex Pharmaceuticals by 169.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after buying an additional 528,029 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.1 %

NASDAQ:VRTX opened at $462.58 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The business’s 50-day moving average price is $435.70 and its two-hundred day moving average price is $461.79. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $119.13 billion, a price-to-earnings ratio of -232.45, a PEG ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of several research analyst reports. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. HC Wainwright restated a “buy” rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Stifel Nicolaus increased their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $505.96.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals 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.