Tokio Marine Asset Management Co. Ltd. Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,681 shares of the pharmaceutical company’s stock after purchasing an additional 566 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $3,572,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Groesbeck Investment Management Corp NJ boosted its position in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after buying an additional 21 shares during the period. Mutual Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. grew its position in Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC raised its stake in shares of Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after purchasing an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded down $4.11 during midday trading on Thursday, reaching $490.50. 102,112 shares of the stock traded hands, compared to its average volume of 1,168,033. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $519.88. 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 firm has a market cap of $126.32 billion, a price-to-earnings ratio of -248.55 and a beta of 0.39. The firm has a fifty day moving average price of $476.13 and a two-hundred day moving average price of $470.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Citigroup began coverage on Vertex Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $575.00 price target for the company. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, UBS Group increased their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $499.12.

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.