Neuberger Berman Group LLC Has $63.36 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Neuberger Berman Group LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 0.0% in the 1st quarter, HoldingsChannel reports. The fund owned 242,769 shares of the pharmaceutical company’s stock after selling 42 shares during the period. Neuberger Berman Group LLC’s holdings in Vertex Pharmaceuticals were worth $63,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $588,506,000. Wellington Management Group LLP lifted its position in shares of Vertex Pharmaceuticals by 23.6% in the first quarter. Wellington Management Group LLP now owns 8,053,710 shares of the pharmaceutical company’s stock worth $2,101,776,000 after buying an additional 1,535,255 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Vertex Pharmaceuticals by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 10,443,771 shares of the pharmaceutical company’s stock valued at $2,293,452,000 after buying an additional 1,374,923 shares during the last quarter. Capital World Investors grew its stake in Vertex Pharmaceuticals by 9.9% in the first quarter. Capital World Investors now owns 12,666,130 shares of the pharmaceutical company’s stock worth $3,305,417,000 after purchasing an additional 1,145,275 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter worth $167,910,000. 91.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Reshma Kewalramani sold 11,689 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $291.30, for a total value of $3,405,005.70. Following the transaction, the chief executive officer now owns 111,153 shares in the company, valued at approximately $32,378,868.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 11,689 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $291.30, for a total value of $3,405,005.70. Following the completion of the transaction, the chief executive officer now owns 111,153 shares of the company’s stock, valued at approximately $32,378,868.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stuart A. Arbuckle sold 22,173 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $303.93, for a total value of $6,739,039.89. Following the completion of the transaction, the chief operating officer now directly owns 45,278 shares of the company’s stock, valued at approximately $13,761,342.54. The disclosure for this sale can be found here. Insiders have sold a total of 208,520 shares of company stock worth $59,937,985 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Vertex Pharmaceuticals from $291.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $250.00 to $253.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Wednesday, June 1st. Cantor Fitzgerald initiated coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $365.00 target price on the stock. Finally, HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.65.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $289.71 on Monday. Vertex Pharmaceuticals Incorporated has a 12 month low of $176.36 and a 12 month high of $305.95. The stock has a market cap of $74.30 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. The company has a current ratio of 4.50, a quick ratio of 4.36 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $287.61 and its 200-day moving average price is $272.33.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last announced its earnings results on Thursday, August 4th. The pharmaceutical company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.48. Vertex Pharmaceuticals had a net margin of 38.26% and a return on equity of 31.22%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The company’s quarterly revenue was up 22.5% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 12.56 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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