ING Groep NV Has $36.78 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

ING Groep NV raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 576.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 81,129 shares of the pharmaceutical company’s stock after purchasing an additional 69,140 shares during the period. ING Groep NV’s holdings in Vertex Pharmaceuticals were worth $36,781,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after purchasing an additional 243,088 shares during the period. Capital Research Global Investors lifted its position in shares of Vertex Pharmaceuticals by 4.6% in the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after purchasing an additional 763,063 shares during the period. Capital International Investors grew its stake in Vertex Pharmaceuticals by 0.9% during the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after purchasing an additional 44,537 shares during the period. Alliancebernstein L.P. grew its stake in Vertex Pharmaceuticals by 3.3% during the third quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock worth $1,771,226,000 after purchasing an additional 144,266 shares during the period. Finally, Norges Bank acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $1,440,149,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a research note on Wednesday, March 18th. Royal Bank Of Canada raised their target price on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Twenty-two equities research analysts have rated the stock with 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 target price of $555.91.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares in the company, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,717 shares of company stock worth $5,309,945. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $446.83 on Friday. The business’s 50 day simple moving average is $437.33 and its two-hundred day simple moving average is $451.81. The firm has a market cap of $113.41 billion, a P/E ratio of 26.50, a PEG ratio of 1.91 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.06 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share 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.