ING Groep NV Sells 12,587 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ING Groep NV trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,538 shares of the pharmaceutical company’s stock after selling 12,587 shares during the period. ING Groep NV’s holdings in Vertex Pharmaceuticals were worth $24,899,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $31,000. Finally, Founders Capital Management lifted its stake in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Down 0.5 %

NASDAQ VRTX traded down $2.50 during mid-day trading on Thursday, hitting $492.11. The company’s stock had a trading volume of 280,497 shares, compared to its average volume of 1,168,840. The firm has a market capitalization of $126.73 billion, a P/E ratio of -248.55 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $519.88. The stock’s fifty day simple moving average is $476.13 and its two-hundred day simple moving average is $470.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.67 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen raised their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Canaccord Genuity Group lifted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, Citigroup began coverage on Vertex Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $575.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $499.12.

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.