Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 41.4% during the second quarter, Holdings Channel.com reports. The firm owned 759,564 shares of the pharmaceutical company’s stock after purchasing an additional 222,316 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Vertex Pharmaceuticals were worth $377,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,440,149,000. Victory Capital Management Inc. raised its position in Vertex Pharmaceuticals by 49.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after acquiring an additional 1,109,200 shares in the last quarter. Capital Research Global Investors raised its position in Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after acquiring an additional 763,063 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $166,317,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Vertex Pharmaceuticals by 520.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company’s stock valued at $149,291,000 after acquiring an additional 319,725 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $484.03 on Friday. The company has a market cap of $122.85 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.99 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $533.67. The business’s fifty day moving average is $473.87 and its two-hundred day moving average is $461.27.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.52 EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the transaction, the chief marketing officer owned 15,337 shares in the company, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This trade represents a 12.29% 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. In the last three months, insiders have sold 17,452 shares of company stock valued at $8,103,997. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group raised their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Barclays upped their target price on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Canaccord Genuity Group increased their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $563.50.

About Vertex Pharmaceuticals

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.