Nykredit A S Invests $123.22 Million in Vertex Pharmaceuticals Incorporated $VRTX

Nykredit A S bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 248,068 shares of the pharmaceutical company’s stock, valued at approximately $123,223,000.

Several other hedge funds have also modified their holdings of VRTX. Meeder Asset Management Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Community Financial Services Group LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Motiv8 Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $26,000. Finally, Swiss RE Ltd. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $28,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $556.75 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $374.17 and a one year high of $558.36. The company has a 50-day simple moving average of $506.85 and a 200-day simple moving average of $470.48. The firm has a market capitalization of $141.30 billion, a P/E ratio of 32.41, a P/E/G ratio of 2.38 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business earned $4.52 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on VRTX. Stifel Nicolaus set a $500.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, August 4th. TD Cowen boosted their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Cantor Fitzgerald upped their price objective on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Morgan Stanley initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday. They set an “overweight” rating and a $665.00 target price for the company. Finally, Weiss Ratings lowered Vertex Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $569.52.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the transaction, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,464 shares of company stock worth $4,959,397. Company insiders own 0.20% of the company’s stock.

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.