Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 647,193 shares of the pharmaceutical company’s stock, valued at approximately $321,480,000.

Several other institutional investors have also recently made changes to their positions in the company. Community Financial Services Group LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter worth $26,000. Elevation Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals by 103.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 28 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $26,000. Swiss RE Ltd. bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $28,000. Finally, IMG Wealth Management Inc. lifted its position in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 50 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $515.55 on Tuesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $546.17. The business’s 50-day moving average is $484.71 and its two-hundred day moving average is $463.96. The company has a market cap of $130.85 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 2.09 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the firm earned $4.52 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares in the company, valued at $5,709,519. This represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent research reports. TD Cowen raised their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein raised Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, UBS Group lifted their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $563.50.

Vertex Pharmaceuticals Company Profile

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.