APG Asset Management US Inc. Sells 666 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

APG Asset Management US Inc. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,334 shares of the pharmaceutical company’s stock after selling 666 shares during the period. APG Asset Management US Inc.’s holdings in Vertex Pharmaceuticals were worth $2,148,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in VRTX. Norges Bank acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth $1,374,948,000. Parnassus Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $731,283,000. Edgewood Management LLC boosted its position in shares of Vertex Pharmaceuticals by 91.2% in the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after acquiring an additional 1,410,238 shares during the period. Wellington Management Group LLP raised its position in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after buying an additional 1,117,214 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $435,899,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.5 %

VRTX stock opened at $472.37 on Wednesday. The firm has a 50 day moving average of $483.41 and a 200 day moving average of $463.75. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $121.30 billion, a PE ratio of -214.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRTX shares. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 1st. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $509.17.

Vertex Pharmaceuticals Profile

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.