E Fund Management Co. Ltd. Acquires 3,448 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• E Fund Management Co. Ltd. increased its stake in Vertex Pharmaceuticals by 53.6%, acquiring an additional 3,448 shares, raising its total holdings to 9,884 shares valued at approximately $4.79 million.
• Several major investors have also increased their positions in Vertex Pharmaceuticals, with institutional investors owning nearly 91% of the company's stock, highlighting strong interest in the biotech sector.
• Recent analyst evaluations have led to cuts in price targets for Vertex Pharmaceuticals, with an average target price now at $497.10, despite the firm reporting better-than-expected earnings of $4.52 per share for the last quarter.

E Fund Management Co. Ltd. grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 53.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,884 shares of the pharmaceutical company's stock after acquiring an additional 3,448 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Vertex Pharmaceuticals were worth $4,792,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Quent Capital LLC boosted its position in Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after acquiring an additional 22 shares during the last quarter. Advisor OS LLC boosted its position in Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after acquiring an additional 23 shares during the last quarter. Sculati Wealth Management LLC boosted its position in Vertex Pharmaceuticals by 1.0% during the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after acquiring an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after acquiring an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its holdings in shares of Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on VRTX. Guggenheim cut their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Cantor Fitzgerald cut their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Royal Bank Of Canada cut their price objective on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Leerink Partners reissued a "market perform" rating and issued a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $497.10.

Insider Buying and Selling

In related news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $387.77 on Wednesday. The firm has a 50-day moving average of $448.18 and a 200-day moving average of $464.96. The stock has a market cap of $99.42 billion, a PE ratio of 27.72 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($12.83) earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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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