Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Nomura Asset Management Co. Ltd.

Key Points

• Nomura Asset Management increased its Vertex Pharmaceuticals stake by 6.6% in the fourth quarter, adding 7,365 shares to bring its total to 119,698 shares valued at about $54.3 million.
• Vertex reported strong quarterly results, with EPS of $4.47 topping estimates of $4.24 and revenue of $2.99 billion, up 8.3% year over year.
• Analysts remain broadly positive on the stock, with 22 Buy ratings, 3 Holds, and a consensus price target of $555.91, while the shares recently traded around $447.54.

Nomura Asset Management Co. Ltd. lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,698 shares of the pharmaceutical company's stock after acquiring an additional 7,365 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Vertex Pharmaceuticals were worth $54,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake 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 worth $9,484,293,000 after acquiring an additional 243,088 shares during the period. Capital Research Global Investors lifted its stake in shares of 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 acquiring an additional 444,990 shares during the period. Capital International Investors raised its holdings in shares of 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 in the last quarter. Alliancebernstein L.P. raised its holdings in shares of 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 in the last quarter. Finally, Norges Bank bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $1,440,149,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CMO Carmen Bozic sold 6,988 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the sale, the chief marketing officer owned 26,088 shares in the company, valued at $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the business'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 transaction of $469,222.08. Following the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This represents a 5.06% 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. Insiders have sold 11,717 shares of company stock worth $5,309,945 over the last 90 days. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $447.54 on Monday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92. The company's 50 day simple moving average is $439.06 and its 200-day simple moving average is $451.85. The firm has a market capitalization of $113.59 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the business earned $4.06 earnings per share. The firm's revenue was up 8.3% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup boosted their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Oppenheimer boosted their target price on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an "outperform" rating in a report on Tuesday, March 10th. Truist Financial assumed coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a "buy" rating and a $542.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group dropped their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating on the stock in a report on Tuesday, May 5th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $555.91.

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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