Fred Alger Management Inc Lowers stake in Vertex Pharmaceuticals Incorporated (VRTX)

Vertex Pharmaceuticals Incorporated (VRTX) : Fred Alger Management Inc reduced its stake in Vertex Pharmaceuticals Incorporated by 18.56% during the most recent quarter end. The investment management company now holds a total of 1,603,104 shares of Vertex Pharmaceuticals Incorporated which is valued at $162,763,149 after selling 365,385 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 0.81% of Fred Alger Management Inc’s portfolio.

Other Hedge Funds, Including , Sabby Management sold out all of its stake in VRTX during the most recent quarter. The investment firm sold 23,320 shares of VRTX which is valued $2,367,680.Public Sector Pension Investment Board boosted its stake in VRTX in the latest quarter, The investment management firm added 7,300 additional shares and now holds a total of 46,866 shares of Vertex Pharmaceuticals Incorporated which is valued at $4,758,305. Vertex Pharmaceuticals Incorporated makes up approx 0.06% of Public Sector Pension Investment Board’s portfolio.New York State Common Retirement Fund boosted its stake in VRTX in the latest quarter, The investment management firm added 59,700 additional shares and now holds a total of 757,400 shares of Vertex Pharmaceuticals Incorporated which is valued at $76,898,822. Vertex Pharmaceuticals Incorporated makes up approx 0.11% of New York State Common Retirement Fund’s portfolio.Victory Capital Management Inc reduced its stake in VRTX by selling 68 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 3,157 shares of VRTX which is valued at $319,520.Capital One National Association reduced its stake in VRTX by selling 44 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 3,243 shares of VRTX which is valued at $295,599. Vertex Pharmaceuticals Incorporated makes up approx 0.02% of Capital One National Association’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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