Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 58,431 shares of the pharmaceutical company’s stock after selling 4,899 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Vertex Pharmaceuticals were worth $30,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC boosted its holdings in Vertex Pharmaceuticals by 14.6% during the third quarter. CWA Asset Management Group LLC now owns 982 shares of the pharmaceutical company’s stock worth $513,000 after buying an additional 125 shares in the last quarter. Abel Hall LLC grew its position in Vertex Pharmaceuticals by 4.0% during the third quarter. Abel Hall LLC now owns 1,092 shares of the pharmaceutical company’s stock valued at $571,000 after buying an additional 42 shares during the period. James T. Borello RIA acquired a new stake in Vertex Pharmaceuticals during the third quarter valued at $50,000. V Square Quantitative Management LLC grew its position in Vertex Pharmaceuticals by 2.6% during the third quarter. V Square Quantitative Management LLC now owns 5,673 shares of the pharmaceutical company’s stock valued at $2,966,000 after buying an additional 142 shares during the period. Finally, Fortitude Advisory Group L.L.C. grew its position in Vertex Pharmaceuticals by 7.9% during the third quarter. Fortitude Advisory Group L.L.C. now owns 558 shares of the pharmaceutical company’s stock valued at $292,000 after buying an additional 41 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $501.95 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $403.16 and a 1 year high of $560.25. The firm has a market capitalization of $127.39 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.28. The business’s 50 day moving average price is $523.10 and its 200-day moving average price is $481.20.

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). The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.52 EPS. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.73 earnings per share for the current year.

Analyst Ratings Changes

VRTX has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Morgan Stanley assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 1st. They set an “overweight” rating and a $665.00 target price on the stock. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Leerink Partners initiated coverage on Vertex Pharmaceuticals in a research report on Monday, September 21st. They set an “outperform” rating and a $594.00 target price on the stock. Finally, Rothschild & Co Redburn lifted their price target on Vertex Pharmaceuticals from $570.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $579.81.

Vertex Pharmaceuticals 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.