Vertex Pharmaceuticals Incorporated $VRTX Stock Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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.’s holdings in Vertex Pharmaceuticals were worth $224,199,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth $11,975,849,000. State Street Corp increased its stake in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. State Street Corp now owns 11,871,459 shares of the pharmaceutical company’s stock worth $5,896,910,000 after acquiring an additional 141,320 shares during the period. Wellington Management Group LLP raised its holdings in Vertex Pharmaceuticals by 1.1% during the second quarter. Wellington Management Group LLP now owns 3,247,658 shares of the pharmaceutical company’s stock worth $1,613,209,000 after purchasing an additional 35,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Vertex Pharmaceuticals by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,086,683 shares of the pharmaceutical company’s stock worth $1,533,248,000 after purchasing an additional 29,287 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Vertex Pharmaceuticals during the second quarter worth about $1,509,651,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VRTX shares. Jefferies Financial Group raised their price objective on shares of Vertex Pharmaceuticals from $633.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. The Goldman Sachs Group set a $653.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Rothschild & Co Redburn increased their target price on Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein raised Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $579.81.

Vertex Pharmaceuticals Stock Up 2.5%

Shares of VRTX opened at $514.65 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $403.16 and a 52-week high of $560.25. The company has a 50-day simple moving average of $522.80 and a 200-day simple moving average of $481.68. The company has a market capitalization of $130.62 billion, a PE ratio of 29.96, a P/E/G ratio of 2.41 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. 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 firm posted $4.52 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.75 EPS 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.