Mirae Asset Global Investments Co. Ltd. Increases Position in Vertex Pharmaceuticals Incorporated $VRTX

Mirae Asset Global Investments Co. Ltd. lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,347 shares of the pharmaceutical company’s stock after purchasing an additional 23,291 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $79,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Childress Capital Advisors LLC increased its holdings in Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after buying an additional 22 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Vertex Pharmaceuticals by 0.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after acquiring an additional 24 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 28.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock worth $52,000 after acquiring an additional 25 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.2% in the 4th quarter. PFG Investments LLC now owns 2,143 shares of the pharmaceutical company’s stock worth $972,000 after acquiring an additional 25 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock worth $565,000 after acquiring an additional 26 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRTX. Barclays lifted their price objective on Vertex Pharmaceuticals from $606.00 to $607.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $596.00 to $612.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Oppenheimer lifted their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Jefferies Financial Group initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price objective on the stock. Finally, HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $555.00.

Vertex Pharmaceuticals Trading Down 1.4%

NASDAQ VRTX opened at $435.65 on Friday. The business’s 50-day moving average price is $462.05 and its 200 day moving average price is $447.07. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $510.77. The company has a market capitalization of $110.81 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.98 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Jonathan Biller sold 945 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the sale, the executive vice president owned 13,659 shares in the company, valued at approximately $6,643,054.65. The trade was a 6.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Carmen Bozic sold 2,329 shares of the stock in a transaction that occurred 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 sale, the chief marketing officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,431 shares of company stock valued at $37,875,167 over the last three months. Insiders own 0.20% of the company’s stock.

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.