Assenagon Asset Management S.A. Acquires 215,448 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Assenagon Asset Management S.A. increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 224.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 311,643 shares of the pharmaceutical company’s stock after purchasing an additional 215,448 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Vertex Pharmaceuticals were worth $144,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of VRTX. Bogart Wealth LLC raised its stake in shares of Vertex Pharmaceuticals by 1.2% in the third quarter. Bogart Wealth LLC now owns 19,228 shares of the pharmaceutical company’s stock worth $8,943,000 after buying an additional 237 shares during the period. Jackson Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 90.1% during the 3rd quarter. Jackson Wealth Management LLC now owns 3,548 shares of the pharmaceutical company’s stock worth $1,650,000 after acquiring an additional 1,682 shares during the period. Commonwealth Financial Services LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $205,000. Greystone Financial Group LLC boosted its position in shares of Vertex Pharmaceuticals by 24.8% in the third quarter. Greystone Financial Group LLC now owns 1,117 shares of the pharmaceutical company’s stock worth $519,000 after purchasing an additional 222 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $423,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.8 %

Vertex Pharmaceuticals stock traded up $3.95 during midday trading on Thursday, reaching $474.00. The stock had a trading volume of 221,037 shares, compared to its average volume of 1,169,698. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The company has a fifty day moving average of $475.60 and a 200 day moving average of $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company posted $3.53 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. HC Wainwright reiterated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $492.92.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is currently owned by insiders.

About Vertex Pharmaceuticals

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.