Rhenman & Partners Asset Management AB Has $20.14 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Rhenman & Partners Asset Management AB grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 50,000 shares of the pharmaceutical company’s stock after acquiring an additional 2,250 shares during the period. Vertex Pharmaceuticals accounts for approximately 2.1% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 15th biggest position. Rhenman & Partners Asset Management AB’s holdings in Vertex Pharmaceuticals were worth $20,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTX. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $1,374,948,000. Parnassus Investments LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $731,283,000. Wellington Management Group LLP boosted its holdings in Vertex Pharmaceuticals by 23.3% in 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 acquiring an additional 1,117,214 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $435,899,000. Finally, Loomis Sayles & Co. L P raised its holdings in Vertex Pharmaceuticals by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after purchasing an additional 704,575 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.9 %

VRTX opened at $474.62 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a market capitalization of $121.88 billion, a P/E ratio of -215.74, a PEG ratio of 2.11 and a beta of 0.50. The company’s 50-day moving average is $481.54 and its 200 day moving average is $463.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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%. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 530 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Barclays upped their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.17.

Vertex Pharmaceuticals Company 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.