DNB Asset Management AS Grows Position in Vertex Pharmaceuticals Incorporated (VRTX)

DNB Asset Management AS lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 32,624 shares of the pharmaceutical company’s stock after acquiring an additional 1,044 shares during the period. DNB Asset Management AS’s holdings in Vertex Pharmaceuticals were worth $6,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Mount Yale Investment Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $101,000. Kaizen Advisory LLC boosted its position in shares of Vertex Pharmaceuticals by 147.3% during the second quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after purchasing an additional 358 shares in the last quarter. Sun Life Financial INC boosted its position in shares of Vertex Pharmaceuticals by 266.1% during the second quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock valued at $118,000 after purchasing an additional 503 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Vertex Pharmaceuticals by 3,126.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock valued at $126,000 after purchasing an additional 719 shares in the last quarter. Institutional investors own 93.47% of the company’s stock.

In other news, CMO Reshma Kewalramani sold 2,305 shares of the business’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $186.95, for a total value of $430,919.75. Following the completion of the transaction, the chief marketing officer now owns 1,909 shares in the company, valued at $356,887.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul M. Silva sold 860 shares of the business’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $179.85, for a total value of $154,671.00. Following the completion of the transaction, the senior vice president now owns 16,947 shares of the company’s stock, valued at approximately $3,047,917.95. The disclosure for this sale can be found here. Insiders sold 40,560 shares of company stock valued at $7,436,746 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Shares of NASDAQ:VRTX opened at $181.32 on Friday. The firm has a market cap of $49.26 billion, a price-to-earnings ratio of 222.49, a P/E/G ratio of 1.96 and a beta of 1.48. Vertex Pharmaceuticals Incorporated has a 12-month low of $136.50 and a 12-month high of $194.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 3.55.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.54. The business had revenue of $752.20 million during the quarter, compared to analysts’ expectations of $680.86 million. Vertex Pharmaceuticals had a return on equity of 19.86% and a net margin of 15.84%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.48 EPS for the current year.

VRTX has been the topic of several research reports. Piper Jaffray Companies lifted their price target on Vertex Pharmaceuticals to $230.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Argus lifted their price target on Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. BidaskClub lowered Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $203.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 26th. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $197.14.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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