Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Increased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,198 shares of the pharmaceutical company’s stock after acquiring an additional 3,527 shares during the period. Vertex Pharmaceuticals makes up 0.9% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 20th largest position. Harvest Fund Management Co. Ltd’s holdings in Vertex Pharmaceuticals were worth $24,365,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $64,417,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Vertex Pharmaceuticals by 3.8% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock valued at $213,435,000 after purchasing an additional 20,053 shares during the period. Leuthold Group LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $5,030,000. Legacy Capital Group California Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $956,000. Finally, ING Groep NV acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $4,695,000. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of a number of recent research reports. Citigroup lifted their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Royal Bank Of Canada lifted their target price on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Canaccord Genuity Group decreased their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a research report on Tuesday, May 5th. Bank of America raised their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a research report on Wednesday, March 18th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.91.

Vertex Pharmaceuticals Trading Up 3.1%

Shares of Vertex Pharmaceuticals stock opened at $441.74 on Friday. The company has a market capitalization of $112.11 billion, a PE ratio of 26.20, a PEG ratio of 1.84 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92. The stock’s fifty day simple moving average is $437.49 and its 200 day simple moving average is $451.84.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the business posted $4.06 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at $8,810,239.58. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. This represents a 21.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,717 shares of company stock valued at $5,309,945 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Company 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.