ABN Amro Investment Solutions Has $30.46 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

ABN Amro Investment Solutions lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 257.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,216 shares of the pharmaceutical company’s stock after purchasing an additional 49,146 shares during the quarter. ABN Amro Investment Solutions’ holdings in Vertex Pharmaceuticals were worth $30,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Vertex Pharmaceuticals in the second quarter worth approximately $228,000. NewEdge Advisors LLC raised its position in Vertex Pharmaceuticals by 9.0% during the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after acquiring an additional 986 shares in the last quarter. ICW Investment Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 5.0% during the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after purchasing an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of Vertex Pharmaceuticals by 26.3% during the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after purchasing an additional 1,518 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 completion of the transaction, 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 position. The transaction was disclosed in a filing 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 business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value 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. This represents a 6.07% decrease in their position. 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. Over the last quarter, insiders have sold 18,874 shares of company stock valued at $8,707,966. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Up 0.3%

VRTX opened at $482.00 on Wednesday. The stock has a market cap of $122.33 billion, a PE ratio of 28.59, a P/E/G ratio of 2.09 and a beta of 0.29. The stock’s 50 day simple moving average is $464.12 and its 200-day simple moving average is $459.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the company posted $4.06 EPS. The business’s revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. UBS Group upped their target price on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Canaccord Genuity Group dropped their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a report on Tuesday, May 5th. Sanford C. Bernstein cut their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $559.61.

Vertex Pharmaceuticals 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.