Deutsche Bank AG Buys 168,425 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Deutsche Bank AG boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,768,881 shares of the pharmaceutical company’s stock after acquiring an additional 168,425 shares during the period. Deutsche Bank AG’s holdings in Vertex Pharmaceuticals were worth $801,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VRTX. Colonial Trust Co SC grew its holdings in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $29,000. IMG Wealth Management Inc. grew its holdings in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Ares Financial Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $33,000. Finally, Archer Investment Corp grew its holdings in Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $445.77 on Wednesday. The company has a market capitalization of $113.14 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.89 and a beta of 0.30. The company’s 50 day moving average price is $437.37 and its two-hundred day moving average price is $452.16. 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 earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $4.06 EPS. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 13,462 shares of company stock worth $6,095,195. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on VRTX shares. Royal Bank Of Canada increased their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald restated an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Scotiabank upped their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, Stifel Nicolaus upped their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $555.91.

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.