Generali Asset Management SPA SGR Purchases 1,472 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Generali Asset Management SPA SGR raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,633 shares of the pharmaceutical company’s stock after purchasing an additional 1,472 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Vertex Pharmaceuticals were worth $8,696,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its position in shares of Vertex Pharmaceuticals by 0.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 140,745 shares of the pharmaceutical company’s stock valued at $73,583,000 after buying an additional 1,148 shares during the period. MADDEN SECURITIES Corp purchased a new position in Vertex Pharmaceuticals in the third quarter worth approximately $26,000. Latitude Advisors LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth approximately $79,000. Roman Butler Fullerton & Co. increased its stake in Vertex Pharmaceuticals by 2.1% during the third quarter. Roman Butler Fullerton & Co. now owns 1,666 shares of the pharmaceutical company’s stock worth $836,000 after acquiring an additional 34 shares during the last quarter. Finally, SYM FINANCIAL Corp increased its stake in Vertex Pharmaceuticals by 17.5% during the third quarter. SYM FINANCIAL Corp now owns 543 shares of the pharmaceutical company’s stock worth $284,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $529.69 on Thursday. The firm has a market cap of $134.44 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.51 and a beta of 0.28. The firm’s 50 day moving average price is $523.08 and its 200-day moving average price is $478.60. Vertex Pharmaceuticals Incorporated has a one year low of $403.16 and a one year high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share 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 analyst estimates of $3.23 billion. During the same quarter last year, the business posted $4.52 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Daiwa Securities Group increased their price target on Vertex Pharmaceuticals from $555.00 to $556.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Morgan Stanley assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 1st. They set an “overweight” rating and a $665.00 price target for the company. TD Cowen raised their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Vertex Pharmaceuticals in a report on Friday, September 11th. They issued an “overweight” rating and a $560.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $579.81.

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.