Clearbridge Investments Lowers stake in Vertex Pharmaceuticals Incorporated (VRTX)

Vertex Pharmaceuticals Incorporated (VRTX) : Clearbridge Investments reduced its stake in Vertex Pharmaceuticals Incorporated by 0.64% during the most recent quarter end. The investment management company now holds a total of 7,574,783 shares of Vertex Pharmaceuticals Incorporated which is valued at $769,067,718 after selling 48,541 shares in Vertex Pharmaceuticals Incorporated , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Vertex Pharmaceuticals Incorporated makes up approximately 0.87% of Clearbridge Investments’s portfolio.

Other Hedge Funds, Including , Chilton Capital Management reduced its stake in VRTX by selling 22,886 shares or 41.79% in the most recent quarter. The Hedge Fund company now holds 31,875 shares of VRTX which is valued at $3,236,269. Vertex Pharmaceuticals Incorporated makes up approx 0.31% of Chilton Capital Management’s portfolio. Elk Creek Partners sold out all of its stake in VRTX during the most recent quarter. The investment firm sold 11,339 shares of VRTX which is valued $1,151,249. Engineers Gate Manager Lp sold out all of its stake in VRTX during the most recent quarter. The investment firm sold 12,638 shares of VRTX which is valued $1,283,136.Eaton Vance Management boosted its stake in VRTX in the latest quarter, The investment management firm added 585,172 additional shares and now holds a total of 994,957 shares of Vertex Pharmaceuticals Incorporated which is valued at $100,699,598. Vertex Pharmaceuticals Incorporated makes up approx 0.28% of Eaton Vance Management’s portfolio.Norinchukin Bank The boosted its stake in VRTX in the latest quarter, The investment management firm added 329 additional shares and now holds a total of 12,974 shares of Vertex Pharmaceuticals Incorporated which is valued at $1,313,099. Vertex Pharmaceuticals Incorporated makes up approx 0.03% of Norinchukin Bank The’s portfolio.

Vertex Pharmaceuticals Incorporated opened for trading at $95.03 and hit $95.88 on the upside on Thursday, eventually ending the session at $94.75, with a gain of 0.25% or 0.24 points. The heightened volatility saw the trading volume jump to 9,66,637 shares. Company has a market cap of $23,477 M.

On the company’s financial health, Vertex Pharmaceuticals Incorporated reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.20. The company had revenue of $431.61 million for the quarter, compared to analysts expectations of $429.58 million. The company’s revenue was up 159.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.54 EPS.

Many Wall Street Analysts have commented on Vertex Pharmaceuticals Incorporated. Shares were Reiterated by Stifel on Aug 16, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $108 .

Vertex Pharmaceuticals Incorporated (Vertex) is a global biotechnology company. The Company is engaged in the business of discovering developing manufacturing and commercializing small molecule drugs. The Company uses precision medicine approaches to create transformative drugs for patients with serious diseases in specialty markets. Vertex’s business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF). It is also engaged in other research and early-stage development programs including programs in the areas of oncology and neurology. The Company’s product candidates include KALYDECO (ivacaftor) Lumacaftor in combination with Ivacaftor VX-661 in combination with Ivacaftor VX-803 VX-970 and VX-222. The Company’s product KALYDECO is available in the market.

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