74,005 Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its Vertex Pharmaceuticals stake by 23.5% in the third quarter, acquiring 74,005 shares and bringing its holdings to 388,770 shares valued at approximately $203.3 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 90.96% of Vertex’s outstanding shares; several major firms, including BlackRock and Bank of America, recently initiated positions.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year, though EPS of $4.73 narrowly missed estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $579.81.

AMF Tjanstepension AB raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 23.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 388,770 shares of the pharmaceutical company's stock after acquiring an additional 74,005 shares during the period. Vertex Pharmaceuticals makes up 1.2% of AMF Tjanstepension AB's portfolio, making the stock its 24th biggest position. AMF Tjanstepension AB owned approximately 0.15% of Vertex Pharmaceuticals worth $203,253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of VRTX. BlackRock Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $11,975,849,000. Bank of America Corp DE bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $1,509,651,000. Legal & General Group Plc purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $928,893,000. Bank of New York Mellon Corp purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $830,842,000. Finally, Deutsche Bank AG bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $784,391,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $535.17 on Friday. The business's fifty day moving average price is $523.15 and its 200-day moving average price is $482.96. The stock has a market capitalization of $135.83 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 2.51 and a beta of 0.28. Vertex Pharmaceuticals Incorporated has a 1-year low of $403.16 and a 1-year high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $4.52 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.75 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a "hold" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, October 17th. Weiss Ratings raised Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. TD Cowen upped their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $560.00 price objective (up from $515.00) on shares of Vertex Pharmaceuticals in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $579.81.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.

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