Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,247 shares of the pharmaceutical company’s stock after buying an additional 12,079 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $38,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. J2 Capital Management Inc lifted its holdings in shares of Vertex Pharmaceuticals by 2.2% during the first quarter. J2 Capital Management Inc now owns 1,915 shares of the pharmaceutical company’s stock valued at $500,000 after purchasing an additional 41 shares during the last quarter. Diversified Trust Co increased its position in shares of Vertex Pharmaceuticals by 1.8% during the first quarter. Diversified Trust Co now owns 2,665 shares of the pharmaceutical company’s stock valued at $695,000 after acquiring an additional 46 shares in the last quarter. JJJ Advisors Inc. grew its position in Vertex Pharmaceuticals by 36.8% in the 1st quarter. JJJ Advisors Inc. now owns 182 shares of the pharmaceutical company’s stock worth $47,000 after purchasing an additional 49 shares during the period. Accurate Wealth Management LLC grew its position in Vertex Pharmaceuticals by 3.7% in the 4th quarter. Accurate Wealth Management LLC now owns 1,396 shares of the pharmaceutical company’s stock worth $262,000 after purchasing an additional 50 shares during the period. Finally, Trustcore Financial Services LLC grew its position in Vertex Pharmaceuticals by 53.8% in the 4th quarter. Trustcore Financial Services LLC now owns 143 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the period. 89.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on VRTX. Morgan Stanley raised shares of Vertex Pharmaceuticals from an “underweight” rating to an “equal weight” rating and set a $250.00 target price for the company in a research report on Tuesday, May 3rd. Cantor Fitzgerald started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, July 12th. They set an “overweight” rating and a $365.00 price objective for the company. SVB Leerink started coverage on shares of Vertex Pharmaceuticals in a research note on Monday, May 23rd. They set a “market perform” rating and a $265.00 target price on the stock. Cowen lifted their target price on shares of Vertex Pharmaceuticals from $305.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, June 13th. Finally, Robert W. Baird cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $250.00 target price on the stock. in a research note on Friday, May 6th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $289.90.

Vertex Pharmaceuticals Price Performance

VRTX opened at $288.03 on Friday. The business has a fifty day moving average of $277.50 and a 200 day moving average of $260.63. Vertex Pharmaceuticals Incorporated has a 52-week low of $176.36 and a 52-week high of $296.84. The company has a quick ratio of 4.60, a current ratio of 4.75 and a debt-to-equity ratio of 0.05. The stock has a market cap of $73.67 billion, a P/E ratio of 30.32, a PEG ratio of 2.03 and a beta of 0.45.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The pharmaceutical company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.48. Vertex Pharmaceuticals had a return on equity of 32.24% and a net margin of 30.84%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $2.80 EPS. Vertex Pharmaceuticals’s revenue was up 22.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 12.41 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 11,689 shares of Vertex Pharmaceuticals stock in a transaction on Friday, June 24th. The stock was sold at an average price of $291.30, for a total transaction of $3,405,005.70. Following the completion of the sale, the chief executive officer now directly owns 111,153 shares of the company’s stock, valued at approximately $32,378,868.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP David Altshuler sold 17,865 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $288.65, for a total value of $5,156,732.25. Following the completion of the transaction, the executive vice president now directly owns 36,077 shares of the company’s stock, valued at approximately $10,413,626.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Reshma Kewalramani sold 11,689 shares of the business’s stock in a transaction on 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 directly owns 111,153 shares of the company’s stock, valued at $32,378,868.90. The disclosure for this sale can be found here. Insiders sold a total of 162,254 shares of company stock valued at $45,899,243 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

About Vertex Pharmaceuticals

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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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