Robeco Institutional Asset Management B.V. Raises Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Robeco Institutional Asset Management B.V. lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,371 shares of the pharmaceutical company’s stock after purchasing an additional 49,980 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.15% of Vertex Pharmaceuticals worth $148,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Chesapeake Asset Management LLC lifted its stake in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the period. Access Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $32,000. Finally, Total Investment Management Inc. purchased a new stake in Vertex Pharmaceuticals in the second quarter worth approximately $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the sale, the chairman directly owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This trade represents a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the transaction, the executive vice president owned 37,725 shares in the company, valued at $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 151,073 shares of company stock valued at $67,326,816. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.7%

NASDAQ VRTX opened at $448.80 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The company has a market capitalization of $113.87 billion, a P/E ratio of 31.65 and a beta of 0.31. The stock’s 50-day moving average price is $439.47 and its 200-day moving average price is $426.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the firm posted $4.38 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VRTX. UBS Group upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Leerink Partners upped their price objective on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a research report on Monday, December 29th. Evercore ISI lowered their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a report on Thursday, September 11th. Scotiabank assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $502.05.

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.