DnB Asset Management AS Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

DnB Asset Management AS grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,942 shares of the pharmaceutical company’s stock after purchasing an additional 19,289 shares during the quarter. DnB Asset Management AS owned approximately 0.08% of Vertex Pharmaceuticals worth $80,919,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VRTX. Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $35,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their target price for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Piper Sandler cut their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, Bank of America decreased their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $502.55 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $129.05 billion, a price-to-earnings ratio of -228.43, a PEG ratio of 2.11 and a beta of 0.41. The stock’s fifty day simple moving average is $475.04 and its 200 day simple moving average is $463.61.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.