Optimal Asset Management Inc. boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,027 shares of the pharmaceutical company’s stock after buying an additional 1,322 shares during the quarter. Optimal Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $1,672,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. OmniStar Financial Group Inc. acquired a new position in Vertex Pharmaceuticals in the first quarter worth $26,000. CX Institutional increased its stake in shares of Vertex Pharmaceuticals by 103.8% in the 1st quarter. CX Institutional now owns 108 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $28,000. Altshuler Shaham Ltd increased its stake in shares of Vertex Pharmaceuticals by 136.7% in the 4th quarter. Altshuler Shaham Ltd now owns 142 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Americana Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $37,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 94,372 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $269.94, for a total value of $25,474,777.68. Following the completion of the sale, the chairman now directly owns 76,707 shares in the company, valued at $20,706,287.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 94,370 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $283.47, for a total value of $26,751,063.90. Following the completion of the sale, the chairman now owns 65,036 shares of the company’s stock, valued at $18,435,754.92. The disclosure for this sale can be found here. Insiders sold 275,523 shares of company stock valued at $75,657,835 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on VRTX. Citigroup lifted their price target on Vertex Pharmaceuticals from $305.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Stifel Nicolaus lifted their price target on shares of Vertex Pharmaceuticals from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Oppenheimer lifted their target price on shares of Vertex Pharmaceuticals from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Royal Bank of Canada cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $250.00 to $260.00 in a research note on Tuesday, April 28th. They noted that the move was a valuation call. Finally, Cowen restated a “buy” rating and issued a $260.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $281.31.

Shares of VRTX traded down $6.51 on Friday, reaching $288.64. 517,114 shares of the stock traded hands, compared to its average volume of 2,073,080. The stock’s 50-day moving average price is $279.15 and its 200-day moving average price is $245.18. The firm has a market cap of $75.34 billion, a price-to-earnings ratio of 49.93, a P/E/G ratio of 1.39 and a beta of 0.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 3.42. Vertex Pharmaceuticals Incorporated has a 12 month low of $165.23 and a 12 month high of $299.21.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, April 29th. The pharmaceutical company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.72. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.28 billion. Vertex Pharmaceuticals had a return on equity of 25.69% and a net margin of 31.35%. The firm’s revenue was up 76.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 7.42 earnings per share for the current fiscal year.

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.

Further Reading: What is a growth and income fund?

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

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

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.