Assenagon Asset Management S.A. Has $377.58 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Assenagon Asset Management S.A. lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 832,853 shares of the pharmaceutical company’s stock after purchasing an additional 69,150 shares during the period. Vertex Pharmaceuticals accounts for about 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 28th biggest position. Assenagon Asset Management S.A. owned 0.33% of Vertex Pharmaceuticals worth $377,582,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Park Place Capital Corp lifted its stake in Vertex Pharmaceuticals by 12.6% in the fourth quarter. Park Place Capital Corp now owns 625 shares of the pharmaceutical company’s stock valued at $283,000 after buying an additional 70 shares during the period. Diversified Trust Co. grew its position in shares of Vertex Pharmaceuticals by 8.2% during the 4th quarter. Diversified Trust Co. now owns 661 shares of the pharmaceutical company’s stock worth $300,000 after buying an additional 50 shares during the period. Westview Management dba Westview Investment Advisors bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $2,849,000. 180 Wealth Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $261,000. Finally, Adirondack Trust Co. lifted its position in shares of Vertex Pharmaceuticals by 5.7% during the 4th quarter. Adirondack Trust Co. now owns 483 shares of the pharmaceutical company’s stock valued at $219,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRTX shares. Citigroup increased their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $570.00 to $596.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $577.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $554.30.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $451.23 on Tuesday. The company has a market capitalization of $114.63 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.94 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $513.97. The company has a 50-day simple moving average of $468.98 and a two-hundred day simple moving average of $441.10.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.Vertex Pharmaceuticals’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.98 EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,329 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $481.79, for a total transaction of $1,122,088.91. Following the completion of the sale, the chief marketing officer directly owned 35,405 shares of the company’s stock, valued at $17,057,774.95. This trade represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Edward Morrow Atkinson III sold 668 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $324,881.80. Following the sale, the executive vice president owned 18,432 shares in the company, valued at $8,964,403.20. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 93,485 shares of company stock valued at $43,967,586 in the last ninety days. 0.20% of the stock is owned by corporate insiders.

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.