Norges Bank Buys New Holdings in Vertex Pharmaceuticals Incorporated (VRTX)

Norges Bank bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,296,681 shares of the pharmaceutical company’s stock, valued at approximately $380,584,000. Norges Bank owned about 0.90% of Vertex Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Actinver Wealth Management Inc. bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $272,000. Massmutual Trust Co. FSB ADV bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $1,798,000. Princeton Global Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $3,283,000. FMR LLC boosted its stake in Vertex Pharmaceuticals by 13.3% in the 4th quarter. FMR LLC now owns 20,483,109 shares of the pharmaceutical company’s stock worth $3,394,256,000 after purchasing an additional 2,411,631 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $838,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ VRTX traded up $1.19 during trading hours on Friday, reaching $168.16. 3,195,691 shares of the stock traded hands, compared to its average volume of 1,441,725. The stock has a market cap of $42.99 billion, a price-to-earnings ratio of 59.42, a P/E/G ratio of 2.43 and a beta of 1.64. Vertex Pharmaceuticals Incorporated has a 52-week low of $144.07 and a 52-week high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.24. The company had revenue of $870.11 million for the quarter, compared to analysts’ expectations of $818.29 million. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. Vertex Pharmaceuticals’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.97 earnings per share for the current fiscal year.

VRTX has been the subject of several analyst reports. BidaskClub upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. Citigroup lowered their price target on Vertex Pharmaceuticals from $206.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, January 4th. Cowen reaffirmed a “buy” rating and issued a $220.00 price target on shares of Vertex Pharmaceuticals in a report on Wednesday, March 6th. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, March 6th. Finally, Zacks Investment Research raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $203.31.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 111,431 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $180.24, for a total value of $20,084,323.44. Following the transaction, the chief executive officer now directly owns 223,916 shares of the company’s stock, valued at approximately $40,358,619.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 32,250 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $186.35, for a total value of $6,009,787.50. Following the completion of the transaction, the chief executive officer now directly owns 155,815 shares in the company, valued at $29,036,125.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,018 shares of company stock worth $38,398,113. 0.75% of the stock is currently owned by insiders.

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About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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