Deutsche Bank AG Has $801.94 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Deutsche Bank AG lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,768,881 shares of the pharmaceutical company’s stock after buying an additional 168,425 shares during the quarter. Deutsche Bank AG owned about 0.70% of Vertex Pharmaceuticals worth $801,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of VRTX. Colonial Trust Co SC raised its stake in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth $29,000. IMG Wealth Management Inc. grew its position in Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Ares Financial Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth $33,000. Finally, Archer Investment Corp grew its position in Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 35 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $445.77 on Wednesday. The firm’s 50-day simple moving average is $437.37 and its 200-day simple moving average is $452.16. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The firm has a market cap of $113.14 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.89 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm earned $4.06 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,462 shares of company stock valued at $6,095,195. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

VRTX has been the topic of several research analyst reports. Bank of America raised their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Barclays raised their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial initiated coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $555.91.

Vertex Pharmaceuticals Company Profile

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.