Resona Asset Management Co. Ltd. Acquires New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Resona Asset Management Co. Ltd. bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 86,227 shares of the pharmaceutical company’s stock, valued at approximately $34,790,000.

Several other large investors also recently modified their holdings of VRTX. Dunhill Financial LLC increased its stake in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $30,000. Sugar Maple Asset Management LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $35,000. Finally, Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth $37,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 1.9 %

VRTX stock opened at $474.62 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market capitalization of $121.88 billion, a price-to-earnings ratio of -215.74, a PEG ratio of 2.11 and a beta of 0.50. The business’s fifty day moving average price is $481.54 and its two-hundred day moving average price is $463.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler cut their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a research note on Thursday, January 30th. Scotiabank raised their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.17.

Vertex Pharmaceuticals Company 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.