ING Groep NV raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 576.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,129 shares of the pharmaceutical company’s stock after purchasing an additional 69,140 shares during the quarter. ING Groep NV’s holdings in Vertex Pharmaceuticals were worth $36,781,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Colonial Trust Co SC raised its stake in shares of Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $29,000. IMG Wealth Management Inc. raised its stake 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 worth $31,000 after purchasing an additional 50 shares during the last quarter. Ares Financial Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $33,000. Finally, Archer Investment Corp raised its stake in shares of Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 35 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals Price Performance
Shares of Vertex Pharmaceuticals stock opened at $446.83 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92. The firm has a market cap of $113.41 billion, a PE ratio of 26.50, a P/E/G ratio of 1.91 and a beta of 0.30. The stock has a fifty day moving average price of $437.33 and a 200-day moving average price of $451.81.
Insider Activity at Vertex Pharmaceuticals
In related news, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the transaction, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. This represents a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares in the company, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,717 shares of company stock worth $5,309,945. Insiders own 0.20% of the company’s stock.
Wall Street Analysts Forecast Growth
VRTX has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Scotiabank upped their target price on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Barclays upped their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Twenty-two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $555.91.
View Our Latest Analysis on VRTX
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.
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