Vertex Pharmaceuticals Incorporated $VRTX Stock: Robeco Institutional Asset Management B.V. Raises Holdings

Key Points

• Robeco Institutional Asset Management increased its Vertex Pharmaceuticals holdings by 6% in the third quarter, bringing its position to 428,835 shares valued at approximately $224.2 million. Institutional investors collectively own 90.96% of the company.
• Analyst sentiment remains favorable, with 25 of 28 analysts rating Vertex Buy or Strong Buy. The stock has a consensus price target of $579.81, above its reported opening price of $514.65.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and ahead of expectations, while adjusted earnings of $4.73 per share narrowly missed the consensus estimate of $4.74.

Robeco Institutional Asset Management B.V. boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 428,835 shares of the pharmaceutical company's stock after buying an additional 24,439 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.17% of Vertex Pharmaceuticals worth $224,199,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. AMI Asset Management Corp acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $35,001,000. Bank Pictet & Cie Europe AG lifted its stake in Vertex Pharmaceuticals by 72.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 2,398 shares of the pharmaceutical company's stock worth $1,254,000 after purchasing an additional 1,006 shares during the last quarter. MBM Wealth Consultants LLC boosted its holdings in Vertex Pharmaceuticals by 4.9% in the third quarter. MBM Wealth Consultants LLC now owns 4,984 shares of the pharmaceutical company's stock valued at $2,606,000 after purchasing an additional 234 shares in the last quarter. 55 North Private Wealth LLC boosted its holdings in Vertex Pharmaceuticals by 11.1% in the third quarter. 55 North Private Wealth LLC now owns 541 shares of the pharmaceutical company's stock valued at $283,000 after purchasing an additional 54 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 9.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 3,162 shares of the pharmaceutical company's stock valued at $1,653,000 after purchasing an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group set a $653.00 price target on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, September 1st. Cantor Fitzgerald boosted their price objective on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 1st. They issued an "overweight" rating and a $665.00 target price on the stock. Finally, TD Cowen increased their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $579.81.

Vertex Pharmaceuticals Stock Up 2.5%

NASDAQ VRTX opened at $514.65 on Wednesday. The firm has a market cap of $130.62 billion, a P/E ratio of 29.96, a P/E/G ratio of 2.41 and a beta of 0.28. Vertex Pharmaceuticals Incorporated has a 52-week low of $403.16 and a 52-week high of $560.25. The business's 50-day moving average price is $522.80 and its 200 day moving average price is $481.68.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.23 billion. During the same period in the prior year, the company earned $4.52 earnings per share. The firm's revenue was up 12.5% on a year-over-year basis. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.75 earnings per share for the current year.

Vertex Pharmaceuticals Profile

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 applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.

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