DnB Asset Management AS Has $80.92 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

DnB Asset Management AS increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,942 shares of the pharmaceutical company's stock after purchasing an additional 19,289 shares during the quarter. DnB Asset Management AS owned 0.08% of Vertex Pharmaceuticals worth $80,919,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock worth $9,366,113,000 after buying an additional 98,654 shares in the last quarter. State Street Corp grew its stake in shares of Vertex Pharmaceuticals by 0.8% during the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company's stock worth $5,495,501,000 after acquiring an additional 90,173 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company's stock worth $1,519,302,000 after purchasing an additional 704,575 shares during the last quarter. Finally, Norges Bank bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at $1,374,948,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded up $0.44 during midday trading on Tuesday, hitting $485.26. The company's stock had a trading volume of 335,331 shares, compared to its average volume of 1,275,697. The company has a 50-day moving average price of $477.71 and a two-hundred day moving average price of $463.68. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a market cap of $124.61 billion, a price-to-earnings ratio of -220.32, a PEG ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company's stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRTX. Cantor Fitzgerald reissued an "overweight" rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. HC Wainwright reiterated a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price target for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $509.17.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.