Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB increased its Vertex Pharmaceuticals stake by 552.3% in the third quarter, acquiring 48,731 additional shares for a total holding valued at approximately $30.1 million. Institutional investors collectively own 90.96% of VRTX.
• Wall Street remains positive on Vertex, with a consensus rating of “Moderate Buy” from 28 analysts and an average price target of $579.81.
• VRTX opened at $535.17, near its 52-week high of $560.25. Its latest quarterly revenue rose 12.5% year over year to $3.33 billion, though earnings of $4.73 per share narrowly missed expectations.

E. Ohman J or Asset Management AB raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 552.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,554 shares of the pharmaceutical company's stock after buying an additional 48,731 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Vertex Pharmaceuticals were worth $30,090,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRTX. Foster Victor Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 0.8% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 31,864 shares of the pharmaceutical company's stock valued at $15,994,000 after buying an additional 258 shares during the period. Vest Financial LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $423,000. Bender Robert & Associates increased its stake in shares of Vertex Pharmaceuticals by 1.3% in the 3rd quarter. Bender Robert & Associates now owns 26,658 shares of the pharmaceutical company's stock worth $13,937,000 after purchasing an additional 355 shares in the last quarter. Trifecta Capital Advisors LLC raised its holdings in Vertex Pharmaceuticals by 3.1% during the third quarter. Trifecta Capital Advisors LLC now owns 17,267 shares of the pharmaceutical company's stock valued at $9,027,000 after acquiring an additional 522 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Vertex Pharmaceuticals by 9.3% during the third quarter. Quadrant Capital Group LLC now owns 5,395 shares of the pharmaceutical company's stock valued at $2,618,000 after acquiring an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VRTX. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald increased their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Morgan Stanley assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 1st. They issued an "overweight" rating and a $665.00 target price for the company. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $560.00 price target (up from $515.00) on shares of Vertex Pharmaceuticals in a research report on Friday, September 11th. Finally, TD Cowen lifted their target price on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $579.81.

Vertex Pharmaceuticals Stock Up 2.0%

VRTX stock opened at $535.17 on Friday. The firm has a 50-day simple moving average of $523.15 and a 200-day simple moving average of $482.96. Vertex Pharmaceuticals Incorporated has a 52 week low of $403.16 and a 52 week high of $560.25. The stock has a market capitalization of $135.83 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.51 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same period last year, the business earned $4.52 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 16.75 earnings per share for the current year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.

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