Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark increased its Vertex Pharmaceuticals stake by 9.9% in the second quarter, bringing its holdings to 54,094 shares valued at approximately $26.9 million. Institutional investors collectively own 90.96% of Vertex’s stock.
• Vertex reported quarterly revenue of $3.33 billion, exceeding analyst expectations, while earnings per share of $4.73 narrowly missed estimates. Revenue rose 12.5% year over year, and analysts forecast $17.02 in full-year EPS.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $563.50 versus the stock’s reported price of $484.03; however, insiders have sold $8.1 million worth of shares over the past 90 days.

PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,094 shares of the pharmaceutical company's stock after acquiring an additional 4,890 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Vertex Pharmaceuticals were worth $26,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Motiv8 Investments LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $26,000. Swiss RE Ltd. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Eagle Bay Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $29,000. IMG Wealth Management Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after purchasing an additional 50 shares during the period. Finally, Ares Financial Consulting LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.2%

Shares of Vertex Pharmaceuticals stock opened at $484.03 on Friday. The company has a 50-day moving average of $473.87 and a two-hundred day moving average of $461.27. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67. The stock has a market cap of $122.85 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 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 analysts' expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.Vertex Pharmaceuticals's revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $4.52 EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares of the company's stock, valued at approximately $7,400,102.50. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares of the company's stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 17,452 shares of company stock worth $8,103,997. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on VRTX shares. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a research report on Wednesday. Cantor Fitzgerald boosted their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, June 28th. Stifel Nicolaus set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a "hold" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $563.50.

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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