Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,761 shares of the pharmaceutical company’s stock after buying an additional 7,767 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Vertex Pharmaceuticals were worth $28,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 3.3% during the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after acquiring an additional 21 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after acquiring an additional 21 shares during the last quarter. Childress Capital Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after acquiring an additional 22 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Vertex Pharmaceuticals by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after purchasing an additional 24 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in Vertex Pharmaceuticals by 28.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock worth $52,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Truist Financial upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 27th. Oppenheimer increased their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. UBS Group lifted their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $590.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $554.83.

View Our Latest Stock Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals News Summary

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

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director directly owned 4,924 shares of the company’s stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the business’s 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 transaction, the executive vice president owned 20,729 shares in the company, valued at approximately $8,810,239.58. This represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 81,853 shares of company stock worth $38,479,135 in the last quarter. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 1.3%

VRTX opened at $424.36 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92. The company has a 50 day moving average of $452.77 and a two-hundred day moving average of $449.59. The company has a market cap of $107.94 billion, a P/E 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 issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 24.41%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.06 EPS. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.81 earnings per share for the current year.

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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