Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,318 shares of the pharmaceutical company's stock after acquiring an additional 23,769 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Vertex Pharmaceuticals worth $69,547,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $31,000. Truvestments Capital LLC increased its stake in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth $44,000. Finally, Prestige Wealth Management Group LLC grew its position in Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley reduced their price target on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen equities 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $511.62.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded down $2.10 during mid-day trading on Friday, reaching $441.30. 3,615,473 shares of the company's stock were exchanged, compared to its average volume of 1,418,238. The business's fifty day simple moving average is $454.50 and its 200 day simple moving average is $458.76. The firm has a market capitalization of $113.33 billion, a PE ratio of -112.58 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. 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 results 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 for 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 revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.76 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.