China Universal Asset Management Co. Ltd. Buys 3,545 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• China Universal Asset Management increased its Vertex Pharmaceuticals stake by 7.3% in the third quarter, buying 3,545 shares and bringing its holdings to 51,810 shares valued at approximately $27.29 million.
• Institutional investors and hedge funds collectively own 90.96% of Vertex. The stock opened at $540, with a market capitalization of about $137.05 billion and a 52-week range of $403.16 to $560.25.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $579.81; recent targets range as high as $617.

China Universal Asset Management Co. Ltd. grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,810 shares of the pharmaceutical company's stock after buying an additional 3,545 shares during the period. Vertex Pharmaceuticals accounts for 1.4% of China Universal Asset Management Co. Ltd.'s holdings, making the stock its 15th biggest position. China Universal Asset Management Co. Ltd.'s holdings in Vertex Pharmaceuticals were worth $27,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Community Financial Services Group LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $26,000. MADDEN SECURITIES Corp acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $26,000. Elevation Wealth Partners LLC lifted its position in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 28 shares during the period. Finally, Pingora Partners LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $32,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 1.9%

Shares of VRTX stock opened at $540.00 on Friday. The stock has a market cap of $137.05 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28. The business has a 50-day simple moving average of $522.84 and a 200-day simple moving average of $478.98. Vertex Pharmaceuticals Incorporated has a 52-week low of $403.16 and a 52-week high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of several research analyst reports. UBS Group raised their price objective on Vertex Pharmaceuticals from $585.00 to $615.00 and gave the stock a "buy" rating in a research note on Monday, September 28th. Barclays lifted their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a "hold" rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. began coverage on shares of Vertex Pharmaceuticals in a report on Friday, September 11th. They issued an "overweight" rating and a $560.00 price target on the stock. Finally, Stifel Nicolaus set a $500.00 price target on shares of Vertex Pharmaceuticals and gave the stock a "hold" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $579.81.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.

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