Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 169.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 839,672 shares of the pharmaceutical company's stock after purchasing an additional 528,029 shares during the period. Vertex Pharmaceuticals makes up 0.5% of Assenagon Asset Management S.A.'s portfolio, making the stock its 23rd largest holding. Assenagon Asset Management S.A. owned about 0.33% of Vertex Pharmaceuticals worth $338,136,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Edgewood Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock valued at $719,186,000 after purchasing an additional 1,526,983 shares during the period. Jennison Associates LLC raised its position in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock worth $2,231,858,000 after buying an additional 704,421 shares during the period. International Assets Investment Management LLC increased its stake in shares of Vertex Pharmaceuticals by 74,015.5% during the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company's stock valued at $150,977,000 after buying an additional 324,188 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at $105,282,000. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Monday. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Finally, Raymond James reiterated a "market perform" rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $490.38.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $12.60 during trading hours on Wednesday, reaching $424.26. 1,722,110 shares of the company were exchanged, compared to its average volume of 1,560,111. The stock's 50-day moving average is $445.93 and its 200-day moving average is $467.13. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a market cap of $109.26 billion, a PE ratio of -213.20 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.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals's 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 EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

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.