Assenagon Asset Management S.A. Boosts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Assenagon Asset Management S.A. boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 169.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 839,672 shares of the pharmaceutical company’s stock after buying an additional 528,029 shares during the quarter. Vertex Pharmaceuticals accounts for 0.5% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 23rd largest position. Assenagon Asset Management S.A. owned approximately 0.33% of Vertex Pharmaceuticals worth $338,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $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 during the third quarter worth $33,000. Finally, Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the third quarter valued at $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.4 %

Vertex Pharmaceuticals stock opened at $411.66 on Wednesday. The stock has a market cap of $106.01 billion, a PE ratio of -206.86 and a beta of 0.40. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $445.93 and a 200 day moving average price of $467.13. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Scotiabank upped their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Barclays cut their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Finally, UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $490.38.

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.