Swedbank AB boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 2.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 260,743 shares of the pharmaceutical company’s stock after buying an additional 6,647 shares during the period. Swedbank AB’s holdings in Vertex Pharmaceuticals were worth $118,210,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Colonial Trust Co SC raised its position in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $29,000. IMG Wealth Management Inc. raised its position in Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Ares Financial Consulting LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $33,000. Finally, Archer Investment Corp raised its position in Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.
Vertex Pharmaceuticals Trading Up 0.2%
VRTX opened at $434.52 on Friday. The company has a market cap of $110.28 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.86 and a beta of 0.30. The business’s 50-day moving average price is $441.55 and its 200-day moving average price is $450.85. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Sanford C. Bernstein lowered their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target on the stock in a research report on Wednesday, March 18th. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Truist Financial upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $555.17.
Get Our Latest Analysis on VRTX
Insider Transactions at Vertex Pharmaceuticals
In related news, EVP Duncan Mckechnie sold 4,910 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total value of $2,394,361.50. Following the sale, the executive vice president directly owned 17,559 shares of the company’s stock, valued at $8,562,646.35. This trade represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Amit Sachdev sold 1,846 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $897,802.10. Following the sale, the executive vice president directly owned 55,570 shares in the company, valued at approximately $27,026,469.50. The trade was a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,189 shares of company stock valued at $9,923,036. 0.20% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals 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.
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