Mitsubishi UFJ Trust & Banking Corp Reduces Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Vertex Pharmaceuticals by 5.7%, owning 161,898 shares worth approximately $78.5 million after selling 9,708 shares in the first quarter.
• A number of institutional investors, including GAMMA Investing LLC and Capital World Investors, have significantly increased their holdings in Vertex Pharmaceuticals, with GAMMA raising its stake by an astonishing 60,572.3%.
• Vertex Pharmaceuticals reported a loss per share of $4.06 last quarter, missing the consensus estimate by $0.23, while its revenue for the quarter was $2.77 billion, below the expected $2.85 billion.

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 161,898 shares of the pharmaceutical company's stock after selling 9,708 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Vertex Pharmaceuticals worth $78,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Vertex Pharmaceuticals by 60,572.3% during the first quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock valued at $1,175,722,000 after buying an additional 2,421,073 shares in the last quarter. Capital World Investors grew its position in shares of Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after acquiring an additional 1,514,993 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares during the last quarter. Edgewood Management LLC raised its position in shares of Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock valued at $1,190,626,000 after acquiring an additional 1,410,238 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on VRTX. Scotiabank lowered their target price on shares of 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. Leerink Partners reaffirmed a "market perform" rating and set a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wolfe Research lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $512.30.

Vertex Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ:VRTX opened at $462.13 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The company has a market capitalization of $118.67 billion, a P/E ratio of -117.89 and a beta of 0.44. The company has a 50-day simple moving average of $455.62 and a 200 day simple moving average of $466.46.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the company earned $4.76 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.