DNB Asset Management AS Boosts Stake in Vertex Pharmaceuticals Incorporated $VRTX

DNB Asset Management AS raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 25.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 119,685 shares of the pharmaceutical company’s stock after purchasing an additional 24,271 shares during the period. DNB Asset Management AS’s holdings in Vertex Pharmaceuticals were worth $54,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Earned Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after buying an additional 21 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in Vertex Pharmaceuticals by 4.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after buying an additional 21 shares during the last quarter. Childress Capital Advisors LLC boosted its position in Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after buying an additional 22 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after buying an additional 24 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 28.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock valued at $52,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 3.0%

Shares of NASDAQ VRTX opened at $436.95 on Friday. The firm’s 50-day moving average price is $445.56 and its two-hundred day moving average price is $450.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92. The stock has a market capitalization of $110.90 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.93 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company posted $4.06 earnings per share. Vertex Pharmaceuticals’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.96 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Jonathan Biller sold 945 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $459,600.75. Following the transaction, the executive vice president owned 13,659 shares of the company’s stock, valued at $6,643,054.65. This trade represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the transaction, the executive vice president directly owned 20,729 shares in the company, valued at $8,810,239.58. This represents 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. Insiders have sold a total of 79,802 shares of company stock valued at $37,402,568 over the last ninety days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Oppenheimer upped their price objective on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Stifel Nicolaus upped their price objective on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, Citigroup lifted their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.17.

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.