Danica Pension Livsforsikringsaktieselskab Takes $11.67 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,126 shares of the pharmaceutical company’s stock, valued at approximately $11,666,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after acquiring an additional 579 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $228,000. NewEdge Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after purchasing an additional 986 shares in the last quarter. ICW Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 5.0% in the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after purchasing an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Vertex Pharmaceuticals by 26.3% in the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after purchasing an additional 1,518 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their position. The transaction 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 business’s stock in a transaction on Friday, May 1st. The shares were 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 of the company’s stock, valued at $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,874 shares of company stock worth $8,707,966 in the last three months. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their price objective on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a research note on Tuesday, May 5th. UBS Group upped their target price on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Truist Financial increased their target price on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a report on Monday, July 13th. Sanford C. Bernstein dropped their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Barclays raised their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Twenty-two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $559.61.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $482.00 on Wednesday. The stock has a market capitalization of $122.33 billion, a P/E ratio of 28.59, a P/E/G ratio of 2.09 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67. The firm’s 50-day moving average is $464.12 and its two-hundred day moving average is $459.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.06 earnings per share. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current 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.