Mirae Asset Global Investments Co. Ltd. Has $8.93 Million Stake in Vertex Pharmaceuticals Incorporated (VRTX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,903 shares of the pharmaceutical company’s stock after buying an additional 6,203 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $8,932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Oregon Public Employees Retirement Fund increased its holdings in shares of Vertex Pharmaceuticals by 16,530.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after buying an additional 4,583,156 shares during the period. Capital International Investors purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $553,534,000. Capital Research Global Investors purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $511,728,000. FMR LLC increased its holdings in shares of Vertex Pharmaceuticals by 10.5% in the third quarter. FMR LLC now owns 18,071,478 shares of the pharmaceutical company’s stock worth $3,483,097,000 after buying an additional 1,714,071 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 22.5% in the third quarter. Jennison Associates LLC now owns 6,202,493 shares of the pharmaceutical company’s stock worth $1,195,468,000 after buying an additional 1,139,486 shares during the period. Hedge funds and other institutional investors own 93.14% of the company’s stock.

NASDAQ VRTX opened at $192.16 on Friday. The stock has a market capitalization of $47.49 billion, a P/E ratio of 63.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.65. Vertex Pharmaceuticals Incorporated has a 1 year low of $144.07 and a 1 year high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.24. The company had revenue of $870.11 million for the quarter, compared to analysts’ expectations of $818.29 million. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. Vertex Pharmaceuticals’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 3.22 EPS for the current fiscal year.

Several research analysts have recently commented on the company. BidaskClub upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Guggenheim assumed coverage on Vertex Pharmaceuticals in a report on Monday, December 17th. They issued a “neutral” rating on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $217.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, December 17th. BMO Capital Markets lifted their price objective on Vertex Pharmaceuticals to $234.00 and gave the stock an “outperform” rating in a report on Wednesday, February 6th. Finally, Zacks Investment Research upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $203.79.

In related news, SVP Paul M. Silva sold 2,812 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $186.97, for a total value of $525,759.64. Following the sale, the senior vice president now directly owns 18,903 shares of the company’s stock, valued at $3,534,293.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Altshuler sold 1,223 shares of the firm’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $194.62, for a total value of $238,020.26. Following the completion of the sale, the executive vice president now directly owns 40,336 shares in the company, valued at $7,850,192.32. The disclosure for this sale can be found here. Insiders sold 215,808 shares of company stock worth $39,439,894 over the last three months. 0.75% of the stock is owned by insiders.

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About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for treating cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for treating patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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