Harvest Fund Management Co. Ltd Has $15.63 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Harvest Fund Management Co. Ltd significantly increased its ownership in Vertex Pharmaceuticals by acquiring 19,710 shares, raising its stake by 129.5% to a total of 34,935 shares, which are valued at approximately $15.6 million.
• Several institutional investors have also repositioned their stakes in Vertex, with a notable 90.96% of the company's stock now held by institutional and hedge funds.
• Wall Street analysts have provided mixed forecasts for Vertex, with price targets ranging from $442.00 to $567.00, while the stock currently has an average rating of "Moderate Buy."

Harvest Fund Management Co. Ltd increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 129.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,935 shares of the pharmaceutical company's stock after acquiring an additional 19,710 shares during the period. Vertex Pharmaceuticals makes up approximately 0.8% of Harvest Fund Management Co. Ltd's portfolio, making the stock its 21st biggest holding. Harvest Fund Management Co. Ltd's holdings in Vertex Pharmaceuticals were worth $15,632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $31,000. SJS Investment Consulting Inc. raised its stake in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $46,000. Mpwm Advisory Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $44,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VRTX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price objective on Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Scotiabank reduced their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Finally, William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $512.30.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded down $12.29 during trading hours on Thursday, hitting $456.87. 1,479,656 shares of the company traded hands, compared to its average volume of 1,005,596. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a market cap of $117.32 billion, a P/E ratio of -116.55 and a beta of 0.41. The firm's 50-day simple moving average is $454.64 and its two-hundred day simple moving average is $465.82. 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 posted 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. Vertex Pharmaceuticals's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.76 EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.