Mitsubishi UFJ Asset Management Co. Ltd. Acquires 21,249 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 566,227 shares of the pharmaceutical company’s stock after purchasing an additional 21,249 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $256,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Colonial Trust Co SC grew its position in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth about $29,000. Ares Financial Consulting LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth about $33,000. Financial Network Wealth Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after buying an additional 29 shares during the period. Finally, Archer Investment Corp lifted its stake in shares of Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 35 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.3%

VRTX stock opened at $424.36 on Wednesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The stock’s 50 day moving average is $452.77 and its 200-day moving average is $449.59. The firm has a market capitalization of $107.94 billion, a PE ratio of 25.17, a P/E/G ratio of 1.87 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 24.41% and a net margin of 35.51%.The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $4.06 earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of recent analyst reports. Oppenheimer boosted their price objective on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday. 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. Sanford C. Bernstein decreased their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Barclays reaffirmed an “overweight” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $554.83.

Get Our Latest Analysis on VRTX

Key Stories Impacting Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 2,329 shares of Vertex Pharmaceuticals 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 owned 35,405 shares of the company’s stock, valued at approximately $17,057,774.95. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Duncan Mckechnie sold 4,910 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the sale, the executive vice president owned 17,559 shares in the company, valued at $8,562,646.35. The trade was a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 81,853 shares of company stock valued at $38,479,135 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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