China Universal Asset Management Co. Ltd. Decreases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

China Universal Asset Management Co. Ltd. decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,866 shares of the pharmaceutical company's stock after selling 3,515 shares during the period. Vertex Pharmaceuticals accounts for about 2.2% of China Universal Asset Management Co. Ltd.'s portfolio, making the stock its 8th biggest holding. China Universal Asset Management Co. Ltd.'s holdings in Vertex Pharmaceuticals were worth $23,691,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Truvestments Capital LLC boosted its position in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $44,000. Finally, Prestige Wealth Management Group LLC increased its holdings in Vertex Pharmaceuticals by 45.5% in the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.5%

Shares of NASDAQ VRTX opened at $454.64 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a market cap of $116.75 billion, a PE ratio of -115.98 and a beta of 0.41. The business has a fifty day simple moving average of $450.84 and a two-hundred day simple moving average of $458.85. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $4.76 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Wolfe Research downgraded Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Bank of America upped their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $511.62.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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