Mirae Asset Global Investments Co. Ltd. Has $59.16 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Mirae Asset Global Investments Co. Ltd. grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 151,056 shares of the pharmaceutical company’s stock after purchasing an additional 6,468 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $59,160,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Vertex Pharmaceuticals by 4.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 71,890 shares of the pharmaceutical company’s stock valued at $32,005,000 after purchasing an additional 3,271 shares in the last quarter. Columbia Asset Management bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $222,000. PFG Investments LLC grew its position in Vertex Pharmaceuticals by 3.3% during the 2nd quarter. PFG Investments LLC now owns 1,872 shares of the pharmaceutical company’s stock worth $833,000 after acquiring an additional 60 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its holdings in shares of Vertex Pharmaceuticals by 3.3% in the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the transaction, the chairman directly owned 24,026 shares in the company, valued at $10,792,479.20. The trade was a 72.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 165,105 shares of company stock worth $73,858,523. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $414.00 to $606.00 in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, January 21st. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a report on Monday. Finally, Scotiabank started coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $522.68.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $477.91 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The company’s 50-day moving average is $451.84 and its 200-day moving average is $427.22. The stock has a market capitalization of $121.26 billion, a PE ratio of 33.70 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the firm earned $4.38 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.