Mirae Asset Global Investments Co. Ltd. Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 119,549 shares of the pharmaceutical company’s stock after purchasing an additional 17,264 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $48,423,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Dunhill Financial LLC grew its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth $33,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Piper Sandler reduced their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. HC Wainwright lifted their price objective on shares of Vertex Pharmaceuticals from $535.00 to $550.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $502.58.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $482.28 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. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock’s 50-day moving average is $434.73 and its two-hundred day moving average is $462.62.

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, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.67 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current year.

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.