Mirae Asset Global Investments Co. Ltd. Acquires 1,270 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Vertex Pharmaceuticals by purchasing an additional 1,270 shares, bringing its total ownership to 144,588 shares, valued at approximately $64.37 million.
• Vertex Pharmaceuticals' stock has seen a 1.1% increase, currently priced at $408.85, with a market cap of $104.83 billion and a PE ratio of 29.22.
• Recent earnings showed Vertex reporting $4.52 earnings per share, exceeding analysts' expectations and indicating a revenue increase of 11.3% year-over-year.

Mirae Asset Global Investments Co. Ltd. lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 144,588 shares of the pharmaceutical company's stock after purchasing an additional 1,270 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Vertex Pharmaceuticals worth $64,371,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. United Services Automobile Association bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $2,933,000. Lee Johnson Capital Management LLC bought a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $721,000. Aries Wealth Management bought a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $293,000. New England Research & Management Inc. bought a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $472,000. Finally, Moody Lynn & Lieberson LLC lifted its stake in Vertex Pharmaceuticals by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company's stock valued at $25,856,000 after buying an additional 822 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.1%

Shares of VRTX stock opened at $408.85 on Friday. The company's fifty day simple moving average is $400.44 and its 200-day simple moving average is $443.73. The firm has a market cap of $104.83 billion, a PE ratio of 29.22 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm posted ($12.83) earnings per share. The company's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research note on Wednesday, August 6th. Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Citigroup lifted their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a "buy" rating in a research note on Thursday. Canaccord Genuity Group cut their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. Finally, Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $493.81.

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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