Vertex Pharmaceuticals Incorporated $VRTX Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 146,864 shares of the pharmaceutical company’s stock after buying an additional 5,303 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.06% of Vertex Pharmaceuticals worth $57,518,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. United Services Automobile Association bought a new stake in Vertex Pharmaceuticals in the first quarter valued at $2,933,000. Lee Johnson Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $721,000. Police & Firemen s Retirement System of New Jersey lifted its position in Vertex Pharmaceuticals by 3.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after purchasing an additional 1,393 shares during the last quarter. Bailard Inc. boosted its stake in Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after purchasing an additional 200 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $10,059,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada decreased their price objective on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. UBS Group raised Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Morgan Stanley set a $564.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, December 5th. Finally, Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $502.05.

Vertex Pharmaceuticals Stock Down 0.3%

Shares of VRTX stock opened at $452.13 on Friday. The stock has a 50-day simple moving average of $438.90 and a 200 day simple moving average of $426.45. The stock has a market capitalization of $114.71 billion, a P/E ratio of 31.89 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company earned $4.38 EPS. Vertex Pharmaceuticals’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This trade represents a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 151,073 shares of company stock valued at $67,326,816. Company insiders own 0.20% of the company’s stock.

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.