Oddo BHF Asset Management Sas Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Oddo BHF Asset Management Sas bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 17,013 shares of the pharmaceutical company’s stock, valued at approximately $7,912,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Edgewood Management LLC increased its position in Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the period. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP increased its position in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares during the period. International Assets Investment Management LLC increased its position in Vertex Pharmaceuticals by 74,015.5% during the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $105,282,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.4 %

Shares of NASDAQ:VRTX opened at $462.16 on Friday. The stock has a market capitalization of $119.02 billion, a PE ratio of -233.23 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 1 year low of $391.01 and a 1 year high of $519.88. The firm has a fifty day moving average price of $473.33 and a 200 day moving average price of $475.80. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm 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 business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.67 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of research reports. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Finally, Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.20.

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.