Tredje AP fonden Has $72.58 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Tredje AP fonden lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,312 shares of the pharmaceutical company’s stock after selling 65,290 shares during the period. Tredje AP fonden’s holdings in Vertex Pharmaceuticals were worth $72,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kovack Advisors Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.9% in the 2nd quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after purchasing an additional 24 shares during the period. Washington Trust Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 8.4% in the 2nd quarter. Washington Trust Advisors Inc. now owns 323 shares of the pharmaceutical company’s stock valued at $144,000 after buying an additional 25 shares in the last quarter. Signature Wealth Management Group boosted its stake in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Signature Wealth Management Group now owns 4,244 shares of the pharmaceutical company’s stock valued at $1,889,000 after buying an additional 26 shares in the last quarter. Hohimer Wealth Management LLC grew its position in Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock valued at $945,000 after acquiring an additional 26 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its stake in Vertex Pharmaceuticals by 1.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock worth $565,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.6%

Shares of VRTX stock opened at $476.90 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The firm’s 50 day moving average is $463.26 and its 200-day moving average is $428.15. The firm has a market capitalization of $121.15 billion, a price-to-earnings ratio of 31.11 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business earned $3.98 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on VRTX. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $570.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. HC Wainwright set a $591.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday. Oppenheimer upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $540.00 target price for the company in a research note on Friday, February 13th. Finally, Leerink Partners boosted their target price on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, December 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $542.00.

Insider Buying and Selling

In related news, EVP Jonathan Biller sold 1,925 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $886,327.75. Following the completion of the sale, the executive vice president directly owned 20,819 shares in the company, valued at $9,585,692.17. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark E. Bunnage sold 2,021 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $930,529.03. Following the sale, the executive vice president directly owned 12,914 shares of the company’s stock, valued at $5,945,993.02. This represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 100,852 shares of company stock worth $45,787,299. 0.20% of the stock is currently owned by company insiders.

About Vertex Pharmaceuticals

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.