Asahi Life Asset Management CO. LTD. Invests $515,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, Holdings Channel reports. The fund purchased 1,280 shares of the pharmaceutical company’s stock, valued at approximately $515,000.

Several other large investors have also recently bought and sold shares of the business. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $35,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $479.79 on Friday. The company has a market cap of $123.21 billion, a P/E ratio of -218.09, a PEG ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm has a 50-day moving average of $440.39 and a 200 day moving average of $461.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 1,084 shares of company stock valued at $505,512 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VRTX shares. Barclays increased their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Piper Sandler decreased their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. Finally, Bank of America reduced their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $506.70.

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.