Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,575 shares of the pharmaceutical company’s stock after selling 1,275 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Vertex Pharmaceuticals were worth $3,358,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VRTX. Brighton Jones LLC grew its stake in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares in the last quarter. McAdam LLC grew its position in shares of Vertex Pharmaceuticals by 16.3% during the second quarter. McAdam LLC now owns 600 shares of the pharmaceutical company’s stock worth $267,000 after buying an additional 84 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 13.7% in the second quarter. Perigon Wealth Management LLC now owns 6,004 shares of the pharmaceutical company’s stock worth $2,673,000 after buying an additional 724 shares during the last quarter. American National Bank & Trust raised its holdings in Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after acquiring an additional 67 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in Vertex Pharmaceuticals by 1.6% during the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 5,608 shares of the pharmaceutical company’s stock valued at $2,497,000 after acquiring an additional 90 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.2%

Shares of VRTX stock opened at $468.41 on Friday. The company has a market cap of $118.84 billion, a P/E ratio of 33.03 and a beta of 0.31. The business has a 50 day moving average of $449.07 and a two-hundred day moving average of $427.21. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $4.38 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research analyst reports. Wolfe Research raised shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price for the company in a research report on Tuesday, January 6th. Citigroup lifted their price target on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a research note on Friday, December 5th. Royal Bank Of Canada raised Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $455.00 to $546.00 in a report on Thursday. Finally, Scotiabank assumed coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $513.10.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 4,500 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the sale, the executive vice president directly owned 42,293 shares in the company, valued at $20,088,752.07. This trade represents a 9.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 165,105 shares of company stock worth $73,858,523. Insiders own 0.20% of the company’s stock.

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.