Resona Asset Management Co. Ltd. Increases Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Resona Asset Management Co. Ltd. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 96,449 shares of the pharmaceutical company’s stock after buying an additional 5,687 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $42,883,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in VRTX. Activest Wealth Management purchased a new stake in Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals during the second quarter valued at $27,000. Flaharty Asset Management LLC purchased a new position in Vertex Pharmaceuticals during the first quarter valued at $32,000. Finally, American National Bank & Trust lifted its holdings in Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. HC Wainwright decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $489.45.

Vertex Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ VRTX opened at $417.00 on Thursday. The firm has a 50-day simple moving average of $403.70 and a 200-day simple moving average of $430.56. The stock has a market capitalization of $106.92 billion, a price-to-earnings ratio of 29.81 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.38 earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.