Assenagon Asset Management S.A. Boosts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Assenagon Asset Management S.A. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 169.4% during the 4th quarter, HoldingsChannel reports. The fund owned 839,672 shares of the pharmaceutical company’s stock after acquiring an additional 528,029 shares during the period. Vertex Pharmaceuticals accounts for 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 23rd largest position. Assenagon Asset Management S.A.’s holdings in Vertex Pharmaceuticals were worth $338,136,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Whalen Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the third quarter worth approximately $662,000. Czech National Bank raised its position in shares of Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after buying an additional 3,260 shares during the period. Creative Planning raised its position in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares during the period. Mizuho Securities USA LLC boosted its holdings in Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after acquiring an additional 57,497 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Vertex Pharmaceuticals by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after acquiring an additional 55,739 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.4 %

Shares of Vertex Pharmaceuticals stock opened at $411.66 on Wednesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $445.93 and a 200 day moving average price of $467.13. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a market cap of $106.01 billion, a P/E ratio of -206.86 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.67 EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on VRTX. Royal Bank of Canada raised their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Scotiabank increased their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Finally, Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $490.38.

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.