Jennison Associates LLC Has $2.45 Billion Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Jennison Associates LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 17.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,062,442 shares of the pharmaceutical company's stock after acquiring an additional 744,680 shares during the quarter. Vertex Pharmaceuticals makes up approximately 1.7% of Jennison Associates LLC's investment portfolio, making the stock its 13th largest position. Jennison Associates LLC owned approximately 1.97% of Vertex Pharmaceuticals worth $2,454,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VRTX. Brighton Jones LLC grew its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after purchasing an additional 579 shares during the period. Proficio Capital Partners LLC grew its holdings in Vertex Pharmaceuticals by 46.6% during the fourth quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company's stock worth $394,000 after purchasing an additional 311 shares during the period. Madison Investment Advisors LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $5,848,000. Evoke Wealth LLC grew its holdings in Vertex Pharmaceuticals by 8.4% during the fourth quarter. Evoke Wealth LLC now owns 1,071 shares of the pharmaceutical company's stock worth $431,000 after purchasing an additional 83 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $497,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VRTX shares. Royal Bank Of Canada set a $420.00 price objective on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Bank of America boosted their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Finally, Morgan Stanley reduced their price objective on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Fourteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $511.71.

Vertex Pharmaceuticals Price Performance

VRTX traded down $3.46 during trading on Friday, hitting $459.81. 975,143 shares of the stock traded hands, compared to its average volume of 1,420,625. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a market cap of $118.08 billion, a price-to-earnings ratio of -117.30 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The business has a 50 day moving average price of $448.80 and a 200 day moving average price of $462.07.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS 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 firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the firm earned $4.76 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. Equities research 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.