Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,715 shares of the pharmaceutical company’s stock after selling 18,822 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $61,324,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth $1,237,877,000. abrdn plc boosted its holdings in Vertex Pharmaceuticals by 196.0% in the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock worth $236,410,000 after acquiring an additional 384,730 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $81,378,000. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 3.9% during the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after purchasing an additional 147,248 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Vertex Pharmaceuticals by 4.9% in the third quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock valued at $978,388,000 after purchasing an additional 131,539 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares in the company, valued at $23,755,762.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $6.15 on Friday, reaching $456.95. 1,050,952 shares of the stock traded hands, compared to its average volume of 1,143,952. Vertex Pharmaceuticals Incorporated has a 12 month low of $320.01 and a 12 month high of $457.66. The company has a market cap of $117.92 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 2.31 and a beta of 0.39. The firm’s fifty day simple moving average is $413.48 and its 200 day simple moving average is $406.78. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.67 EPS. Vertex Pharmaceuticals’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRTX. Piper Sandler boosted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $440.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Wolfe Research assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Finally, Guggenheim upped their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $432.18.

About Vertex Pharmaceuticals

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.