Danske Bank A S Makes New $64.42 Million Investment in Vertex Pharmaceuticals Incorporated $VRTX

Danske Bank A S purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 164,480 shares of the pharmaceutical company’s stock, valued at approximately $64,417,000. Danske Bank A S owned 0.06% of Vertex Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of VRTX. Hohimer Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after purchasing an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in Vertex Pharmaceuticals by 1.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock worth $565,000 after purchasing an additional 26 shares during the last quarter. Quent Capital LLC lifted its holdings in Vertex Pharmaceuticals by 5.5% during the 3rd quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after buying an additional 26 shares during the period. Washington Trust Advisors Inc. lifted its holdings in Vertex Pharmaceuticals by 8.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 26 shares during the period. Finally, Defined Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 3.0% in the 3rd quarter. Defined Wealth Management LLC now owns 932 shares of the pharmaceutical company’s stock valued at $365,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other news, EVP Charles F. Wagner, Jr. sold 9,532 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at $17,391,225. This represents a 20.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Duncan Mckechnie sold 4,910 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the completion of the sale, the executive vice president owned 17,559 shares of the company’s stock, valued at approximately $8,562,646.35. This represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 93,485 shares of company stock worth $43,967,586. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.4%

VRTX stock opened at $451.59 on Thursday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $515.67. The stock’s 50 day moving average is $469.60 and its 200-day moving average is $439.57. The firm has a market capitalization of $114.72 billion, a PE ratio of 29.46, a P/E/G ratio of 1.97 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.98 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VRTX shares. Evercore increased their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Scotiabank upped their target price on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Leerink Partners increased their target price on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a research report on Monday, December 29th. Royal Bank Of Canada lowered their price target on shares of Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Twenty-four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $554.30.

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.