PFA Pension Forsikringsaktieselskab Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• PFA Pension Forsikringsaktieselskab opened a new position in Vertex, buying 135,188 shares worth about $61.34 million and now owning roughly 0.05% of the company.
• Company insiders have been net sellers recently: EVP Amit Sachdev sold 58,613 shares for ~$27.48 million, and insiders sold 80,431 shares totaling about $37.88 million over the last 90 days, leaving corporate insiders with just 0.20% ownership.
• Analysts remain broadly positive with a consensus "Moderate Buy" and a $554.83 average price target after several firms raised targets, while Vertex trades at a $107.8 billion market cap and reported Q (EPS $5.03 vs. $5.05 est.) with revenue up 9.5% year-over-year to $3.19 billion.

PFA Pension Forsikringsaktieselskab acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 135,188 shares of the pharmaceutical company's stock, valued at approximately $61,340,000. PFA Pension Forsikringsaktieselskab owned 0.05% of Vertex Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company's stock valued at $9,484,293,000 after buying an additional 243,088 shares during the period. Capital Research Global Investors raised its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company's stock worth $6,482,978,000 after purchasing an additional 444,990 shares during the period. Capital International Investors raised its holdings in Vertex Pharmaceuticals by 77.9% in the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company's stock worth $1,836,550,000 after purchasing an additional 2,053,156 shares during the period. Alliancebernstein L.P. raised its holdings in Vertex Pharmaceuticals by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company's stock worth $1,771,226,000 after purchasing an additional 144,266 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Vertex Pharmaceuticals by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company's stock worth $891,744,000 after purchasing an additional 95,565 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Amit Sachdev sold 58,613 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the sale, the executive vice president directly owned 58,934 shares in the company, valued at approximately $27,630,027.22. This trade represents a 49.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark E. Bunnage sold 2,021 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $930,529.03. Following the completion of the sale, the executive vice president owned 12,914 shares in the company, valued at approximately $5,945,993.02. The trade was a 13.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 80,431 shares of company stock valued at $37,875,167. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $423.92 on Friday. The business has a 50 day simple moving average of $453.82 and a 200-day simple moving average of $449.22. The firm has a market capitalization of $107.83 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $509.00.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion during the quarter, compared to analysts' expectations of $3.18 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The company's revenue was up 9.5% on a year-over-year basis. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.81 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of analyst reports. Wall Street Zen cut Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday. HC Wainwright upped their price target on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Scotiabank upped their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Citigroup upped their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $554.83.

Vertex Pharmaceuticals 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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