Transamerica Financial Advisors Inc. Buys 7,713 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Transamerica Financial Advisors Inc. raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1,673.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,174 shares of the pharmaceutical company’s stock after acquiring an additional 7,713 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $3,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Edgewood Management LLC increased its stake in Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the period. Jennison Associates LLC grew its holdings in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the last quarter. Swedbank AB bought a new position in Vertex Pharmaceuticals in the 1st quarter worth about $277,317,000. AMF Tjanstepension AB purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $257,655,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after purchasing an additional 324,188 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,445 shares of company stock worth $2,218,394. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Guggenheim lifted their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, Bank of America dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $504.38.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $0.77 during trading hours on Tuesday, hitting $462.48. The company’s stock had a trading volume of 101,364 shares, compared to its average volume of 1,358,375. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $473.55 and a 200 day moving average of $474.04. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $3.67 EPS. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

About Vertex Pharmaceuticals

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.