Mirae Asset Global Investments Co. Ltd. Buys 6,468 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Mirae Asset Global Investments Co. Ltd. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,056 shares of the pharmaceutical company’s stock after acquiring an additional 6,468 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Vertex Pharmaceuticals worth $59,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Chesapeake Asset Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after buying an additional 33 shares during the period. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth $29,000. Total Investment Management Inc. purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at about $33,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 50.9% during the third 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. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on VRTX. Barclays raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $414.00 to $606.00 in a research note on Tuesday. Sanford C. Bernstein raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 21st. UBS Group increased their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley set a $564.00 price target on Vertex Pharmaceuticals in a report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $522.68.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 9,532 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $461.00, for a total value of $4,394,252.00. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at $17,391,225. The trade was a 20.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 4,500 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the sale, the executive vice president directly owned 42,293 shares of the company’s stock, valued at $20,088,752.07. The trade was a 9.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 165,105 shares of company stock worth $73,858,523. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Up 0.8%

Shares of VRTX opened at $477.91 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68. The company has a 50-day moving average of $451.84 and a two-hundred day moving average of $427.22. The stock has a market cap of $121.26 billion, a P/E ratio of 33.70 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company posted $4.38 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.