MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 47,965 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Vertex Pharmaceuticals by 25.3%, reaching 237,225 shares valued at approximately $115.02 million.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, exceeding analyst expectations and reflecting an 11.3% increase in revenue compared to the previous year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Vertex Pharmaceuticals, with an average price target of $497.10, indicating a mix of buy and hold ratings among various research firms.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,225 shares of the pharmaceutical company's stock after acquiring an additional 47,965 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Vertex Pharmaceuticals worth $115,019,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VRTX. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Finally, Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Canaccord Genuity Group decreased their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Cantor Fitzgerald decreased their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a report on Wednesday, August 6th. Finally, Scotiabank decreased their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Insider Buying and Selling

In other news, Director Bruce I. Sachs acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $0.81 during midday trading on Friday, reaching $396.12. 1,171,066 shares of the company were exchanged, compared to its average volume of 1,551,862. The company has a market cap of $101.56 billion, a price-to-earnings ratio of 28.31 and a beta of 0.44. The company's fifty day moving average price is $428.49 and its 200 day moving average price is $456.22. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate 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.