Danske Bank A S Takes $78.52 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Danske Bank acquired 158,064 Vertex Pharmaceuticals shares worth approximately $78.5 million, while institutional investors collectively own 90.96% of the company.
• Analysts remain broadly positive, with Vertex receiving a consensus “Moderate Buy” rating and an average price target of $563.50; several firms recently raised their targets.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year, although adjusted earnings of $4.73 per share narrowly missed expectations. Shares were trading at $528.19, up 2.5%.

Danske Bank A S bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 158,064 shares of the pharmaceutical company's stock, valued at approximately $78,515,000. Danske Bank A S owned about 0.06% of Vertex Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $11,975,849,000. Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $1,440,149,000. AIGH Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $26,725,000. Bank of New York Mellon Corp acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $830,842,000. Finally, Deutsche Bank AG purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $784,391,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. TD Cowen upped their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Barclays increased their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $563.50.

Insiders Place Their Bets

In related news, CMO Carmen Bozic sold 596 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the sale, the chief marketing officer owned 15,337 shares of the company's stock, valued at $7,400,102.50. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,709,519. This trade represents a 12.29% 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 have sold 10,464 shares of company stock valued at $4,959,397. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 2.5%

Shares of NASDAQ VRTX opened at $528.19 on Wednesday. The company has a market capitalization of $134.05 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.09 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $546.17. The business has a 50 day simple moving average of $486.36 and a 200-day simple moving average of $464.31.

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

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.

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