Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.3% during the second quarter, Holdings Channel reports. The fund owned 36,425 shares of the pharmaceutical company’s stock after selling 4,173 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Vertex Pharmaceuticals were worth $4,694,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Korea Investment CORP increased its stake in shares of Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock worth $104,000 after buying an additional 658 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Vertex Pharmaceuticals by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 6 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Vertex Pharmaceuticals by 7.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,500 shares of the pharmaceutical company’s stock worth $164,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth about $197,000. Finally, Sterling Global Strategies LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $200,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 153.78 on Friday. The firm’s 50-day moving average is $143.85 and its 200-day moving average is $115.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $71.46 and a 52-week high of $167.86. The company has a market cap of $38.77 billion, a PE ratio of 147.72 and a beta of 1.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The business had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. During the same period last year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current year.

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A number of analysts have recently issued reports on the stock. Raymond James Financial, Inc. raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price target on the stock in a report on Wednesday, July 19th. J P Morgan Chase & Co set a $175.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. raised their price objective on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Vetr raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating and set a $102.09 price objective on the stock in a report on Monday, May 15th. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a report on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $162.88.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 147,101 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $129.50, for a total value of $19,049,579.50. Following the completion of the sale, the chief executive officer now directly owns 312,142 shares of the company’s stock, valued at approximately $40,422,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stuart A. Arbuckle sold 70,969 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $128.06, for a total value of $9,088,290.14. Following the completion of the sale, the executive vice president now directly owns 145,061 shares of the company’s stock, valued at $18,576,511.66. The disclosure for this sale can be found here. Insiders sold a total of 751,042 shares of company stock valued at $113,078,257 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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

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