Commerzbank Aktiengesellschaft FI Acquires New Position in Vertex Pharmaceuticals Incorporated $VRTX

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, HoldingsChannel reports. The firm acquired 6,857 shares of the pharmaceutical company’s stock, valued at approximately $3,406,000.

A number of other large investors have also recently bought and sold shares of VRTX. Norges Bank bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,440,149,000. AIGH Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $26,725,000. Bank of New York Mellon Corp bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $830,842,000. Victory Capital Management Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 49.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 4.6% during the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after purchasing an additional 763,063 shares during the period. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VRTX shares. Truist Financial upped their price objective on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald boosted their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 4th. Finally, Canaccord Genuity Group increased their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $563.50.

Insider Activity

In other news, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the transaction, the executive vice president directly owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the sale, the chief marketing officer owned 16,953 shares in the company, valued at approximately $7,628,850. This represents a 19.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 10,464 shares of company stock valued at $4,959,397. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $515.55 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $546.17. The firm has a market capitalization of $130.85 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.30. The business has a 50 day simple moving average of $484.71 and a 200 day simple moving average of $463.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share 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 business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the firm earned $4.52 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.