Cibc World Market Inc. Lowers Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cibc World Market Inc. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 34.8% in the second quarter, HoldingsChannel reports. The fund owned 4,316 shares of the pharmaceutical company’s stock after selling 2,306 shares during the quarter. Cibc World Market Inc.’s holdings in Vertex Pharmaceuticals were worth $1,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTX. TFC Financial Management lifted its position in Vertex Pharmaceuticals by 58.0% during the second quarter. TFC Financial Management now owns 109 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Sittner & Nelson LLC lifted its position in Vertex Pharmaceuticals by 66.7% during the first quarter. Sittner & Nelson LLC now owns 125 shares of the pharmaceutical company’s stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. Trust Co. of Vermont purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $33,000. James Investment Research Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $37,000. Finally, Vestor Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth $41,000. Hedge funds and other institutional investors own 91.33% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 621 shares of the firm’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $310.00, for a total transaction of $192,510.00. Following the sale, the director now owns 4,040 shares in the company, valued at $1,252,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Bastiano Sanna sold 1,791 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $300.31, for a total value of $537,855.21. Following the sale, the executive vice president now owns 39,192 shares in the company, valued at $11,769,749.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 621 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $310.00, for a total transaction of $192,510.00. Following the completion of the sale, the director now owns 4,040 shares in the company, valued at approximately $1,252,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,715 shares of company stock worth $1,125,226. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $253.00 to $285.00 and gave the stock an “equal weight” rating in a report on Friday, October 28th. Cowen raised their price target on shares of Vertex Pharmaceuticals from $315.00 to $330.00 in a report on Friday, October 28th. StockNews.com assumed coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Guggenheim raised their price target on shares of Vertex Pharmaceuticals to $318.00 in a report on Tuesday, November 1st. Finally, Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $281.00 to $288.00 and gave the stock a “sector perform” rating in a report on Friday, October 28th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $305.33.

Vertex Pharmaceuticals Stock Up 1.5 %

VRTX stock opened at $314.63 on Monday. The firm has a market cap of $80.76 billion, a PE ratio of 24.81, a P/E/G ratio of 2.02 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.70. The firm’s fifty day moving average is $298.03 and its 200 day moving average is $284.44. Vertex Pharmaceuticals Incorporated has a one year low of $179.96 and a one year high of $318.38.

Vertex Pharmaceuticals Company Profile

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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.

Further Reading

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

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