Nykredit A S Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Nykredit A/S acquired 204,386 Vertex Pharmaceuticals shares worth approximately $101.5 million in the second quarter, while institutional investors collectively own 90.96% of the company.
• Analysts maintain a generally positive outlook, with Vertex receiving a “Moderate Buy” consensus rating and an average price target of $570.83. Recent targets range from $442 to $653.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year, though earnings of $4.73 per share narrowly missed estimates; the stock opened at $516.34, up 0.6%.

Nykredit A S purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 204,386 shares of the pharmaceutical company's stock, valued at approximately $101,525,000. Nykredit A S owned 0.08% of Vertex Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Vertex Pharmaceuticals during the second quarter valued at $11,975,849,000. Capital Research Global Investors grew its stake in shares of Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company's stock worth $7,850,544,000 after acquiring an additional 763,063 shares during the last quarter. State Street Corp increased its holdings in shares of Vertex Pharmaceuticals by 0.7% during the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company's stock valued at $5,299,569,000 after acquiring an additional 83,539 shares in the last quarter. Capital International Investors increased its holdings in shares of Vertex Pharmaceuticals by 0.9% during the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company's stock valued at $2,146,041,000 after acquiring an additional 44,537 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Vertex Pharmaceuticals by 49.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company's stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a "hold" rating in a report on Tuesday, August 4th. Cantor Fitzgerald raised their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. The Goldman Sachs Group set a $653.00 price objective on Vertex Pharmaceuticals in a research report on Tuesday, September 1st. Finally, UBS Group increased 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $570.83.

Vertex Pharmaceuticals Stock Up 0.6%

Shares of NASDAQ VRTX opened at $516.34 on Friday. The firm's 50-day moving average price is $511.35 and its 200-day moving average price is $473.92. The company has a market cap of $131.05 billion, a PE ratio of 30.05, a PEG ratio of 2.25 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion for 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 firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 earnings per share. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Duncan McKechnie sold 1,541 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the transaction, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares of the company's stock, valued at $23,793,071.79. The trade was a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,637 shares of company stock valued at $1,874,834. Company insiders own 0.20% of the company's stock.

About Vertex Pharmaceuticals

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 combines research in human genetics with drug discovery and development.

Vertex is best known for its cystic fibrosis portfolio, which includes CFTR modulator therapies such as Kalydeco, Orkambi, Symdeko and the combination marketed as Trikafta in the United States and Kaftrio in other markets.

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