Lansforsakringar Fondforvaltning AB publ Increases Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Lansforsakringar Fondforvaltning AB publ increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,563 shares of the pharmaceutical company’s stock after purchasing an additional 5,273 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned 0.06% of Vertex Pharmaceuticals worth $57,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $1,593,974,000. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after acquiring an additional 1,089,063 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Vertex Pharmaceuticals by 214.6% during the third quarter. Assenagon Asset Management S.A. now owns 763,703 shares of the pharmaceutical company’s stock worth $299,097,000 after purchasing an additional 520,949 shares during the last quarter. Vanguard Group Inc. lifted its position in Vertex Pharmaceuticals by 2.1% during the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after purchasing an additional 482,616 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Vertex Pharmaceuticals by 10.7% during the second quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock valued at $1,949,228,000 after purchasing an additional 424,808 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, EVP Edward Morrow Atkinson III sold 1,751 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $806,212.93. Following the sale, the executive vice president owned 22,046 shares in the company, valued at $10,150,639.78. This trade represents a 7.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Biller sold 1,925 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total transaction of $886,327.75. Following the transaction, the executive vice president owned 20,819 shares of the company’s stock, valued at approximately $9,585,692.17. This trade represents a 8.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,852 shares of company stock worth $45,787,299 in the last 90 days. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 1.6%

NASDAQ VRTX opened at $476.90 on Friday. The stock has a market capitalization of $121.15 billion, a price-to-earnings ratio of 31.11 and a beta of 0.30. The stock has a 50-day moving average of $463.26 and a 200 day moving average of $428.53. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.98 earnings per share. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VRTX shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $590.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Evercore upped their target price on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. HC Wainwright set a $591.00 price target on Vertex Pharmaceuticals in a research report on Tuesday. Oppenheimer raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $540.00 price target for the company in a report on Friday, February 13th. Finally, Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

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.