Renaissance Technologies LLC Has $562.66 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Renaissance Technologies LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,397,209 shares of the pharmaceutical company's stock after selling 234,284 shares during the period. Vertex Pharmaceuticals makes up about 0.8% of Renaissance Technologies LLC's portfolio, making the stock its 7th largest holding. Renaissance Technologies LLC owned approximately 0.54% of Vertex Pharmaceuticals worth $562,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VRTX. Dunhill Financial LLC grew its stake in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Sugar Maple Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $35,000. Finally, Golden State Wealth Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $37,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 310 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 in the last three months. Corporate insiders own 0.20% of the company's stock.

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Vertex Pharmaceuticals Trading Up 1.8 %

VRTX traded up $8.73 during trading on Friday, hitting $484.22. The company's stock had a trading volume of 1,574,131 shares, compared to its average volume of 1,326,055. The firm has a market capitalization of $124.34 billion, a P/E ratio of -220.10, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average price is $484.84 and its 200-day moving average price is $464.28.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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 2.02% and a negative net margin of 4.86%. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VRTX shares. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Bank of America raised their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. Finally, Stifel Nicolaus raised their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a research report on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $512.41.

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.