125,970 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by ABN AMRO Bank N.V.

ABN AMRO Bank N.V. acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 125,970 shares of the pharmaceutical company's stock, valued at approximately $62,517,000.

Several other hedge funds have also made changes to their positions in the business. S&CO Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $2,038,000. Kelleher Financial Advisors acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $73,000. TFR Capital LLC. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $2,520,000. Clearstead Trust LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $58,000. Finally, Bridgewater Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $519,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 2.1%

NASDAQ:VRTX opened at $505.75 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $546.17. The stock has a market cap of $128.36 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.09 and a beta of 0.30. The firm's fifty day simple moving average is $483.26 and its 200-day simple moving average is $463.76.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.52 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, July 29th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Barclays lifted their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $563.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Duncan Mckechnie sold 1,541 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the sale, the executive vice president owned 11,001 shares of the company's stock, valued at $5,709,519. The trade was a 12.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $450.00, for a total value of $1,827,900.00. Following the completion of the sale, the chief marketing officer owned 16,953 shares in the company, valued at approximately $7,628,850. This represents a 19.33% 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. Over the last three months, insiders sold 10,464 shares of company stock valued at $4,959,397. Corporate 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.

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