Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 146,563 shares of the pharmaceutical company’s stock after acquiring an additional 5,273 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Vertex Pharmaceuticals were worth $57,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Access Investment Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $27,000. Chesapeake Asset Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after buying an additional 33 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $29,000. Total Investment Management Inc. purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $33,000. Finally, Financial Network Wealth Advisors LLC grew its stake in Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Mark E. Bunnage sold 2,021 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $930,529.03. Following the transaction, the executive vice president directly owned 12,914 shares in the company, valued at approximately $5,945,993.02. This represents a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. This trade represents a 27.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,852 shares of company stock valued at $45,787,299 over the last quarter. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VRTX shares. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a research note on Tuesday. Evercore increased their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Sanford C. Bernstein reissued an “outperform” rating and set a $577.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, UBS Group lifted their price target on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $542.00.

Vertex Pharmaceuticals Stock Up 1.6%

VRTX stock opened at $476.90 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68. The stock has a market cap of $121.15 billion, a price-to-earnings ratio of 31.11 and a beta of 0.30. The business has a fifty day moving average of $463.26 and a two-hundred day moving average of $428.53.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.98 earnings per share. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.