Deutsche Bank AG Acquires Shares of 1,579,110 Vertex Pharmaceuticals Incorporated $VRTX

Deutsche Bank AG bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,579,110 shares of the pharmaceutical company’s stock, valued at approximately $784,391,000.

A number of other large investors have also recently modified their holdings of the business. Community Financial Services Group LLC bought a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $26,000. Motiv8 Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $26,000. Elevation Wealth Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 28 shares during the last quarter. Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Finally, IMG Wealth Management Inc. boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.9%

Shares of VRTX stock opened at $515.55 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $546.17. The stock’s fifty day simple moving average is $484.71 and its 200 day simple moving average is $463.96. The firm has a market capitalization of $130.85 billion, a P/E ratio of 30.01, a P/E/G ratio of 2.09 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business posted $4.52 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 4,062 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the sale, the chief marketing officer directly owned 16,953 shares of the company’s stock, valued at $7,628,850. The trade was a 19.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock valued at $4,959,397 over the last quarter. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

VRTX has been the subject of several research analyst reports. Stifel Nicolaus set a $500.00 target price on Vertex Pharmaceuticals in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Finally, Truist Financial upped their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.