ABN Amro Investment Solutions Grows Holdings in Vertex Pharmaceuticals Incorporated $VRTX

ABN Amro Investment Solutions boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 257.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,216 shares of the pharmaceutical company's stock after buying an additional 49,146 shares during the quarter. ABN Amro Investment Solutions' holdings in Vertex Pharmaceuticals were worth $30,461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Vertex Pharmaceuticals by 9.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 832,853 shares of the pharmaceutical company's stock valued at $377,582,000 after buying an additional 69,150 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Vertex Pharmaceuticals by 414.1% in the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company's stock worth $6,363,000 after purchasing an additional 11,306 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 77.1% in the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company's stock worth $34,779,000 after purchasing an additional 33,917 shares during the last quarter. Sandro Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $1,436,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Vertex Pharmaceuticals by 11.9% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company's stock valued at $15,625,000 after buying an additional 3,710 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Joy Liu sold 1,104 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,874 shares of company stock valued at $8,707,966 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ VRTX opened at $482.00 on Wednesday. The stock's fifty day simple moving average is $464.12 and its 200 day simple moving average is $459.39. The stock has a market capitalization of $122.33 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.09 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business posted $4.06 earnings per share. Vertex Pharmaceuticals's revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VRTX. Truist Financial upped their price target on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Canaccord Genuity Group reduced their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a research report on Tuesday, May 5th. UBS Group lifted their target price on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Finally, Barclays boosted their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $559.61.

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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.