Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.9% during the 2nd quarter, Holdings Channel reports. The fund owned 54,094 shares of the pharmaceutical company’s stock after acquiring an additional 4,890 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Vertex Pharmaceuticals were worth $26,870,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Motiv8 Investments LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $26,000. Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $29,000. IMG Wealth Management Inc. raised its position in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares during the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $484.03 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $533.67. The company’s 50 day simple moving average is $473.87 and its 200 day simple moving average is $461.27. The stock has a market capitalization of $122.85 billion, a PE ratio of 28.17, a P/E/G ratio of 1.99 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the company posted $4.52 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,452 shares of company stock worth $8,103,997 in the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on VRTX shares. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. UBS Group boosted their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a report on Monday, July 13th. Truist Financial increased their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $563.50.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.