Wellington Management Group LLP Purchases 704,421 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wellington Management Group LLP raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,798,870 shares of the pharmaceutical company’s stock after acquiring an additional 704,421 shares during the quarter. Wellington Management Group LLP owned approximately 1.86% of Vertex Pharmaceuticals worth $2,231,858,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in Vertex Pharmaceuticals by 0.8% in the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the period. Jennison Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Vertex Pharmaceuticals by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after buying an additional 159,693 shares during the period. Janus Henderson Group PLC raised its stake in shares of Vertex Pharmaceuticals by 4.1% in the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after buying an additional 100,114 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after buying an additional 29,104 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $459.92 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $348.46 and a 52 week high of $519.88. The company has a market capitalization of $118.44 billion, a PE ratio of -231.12 and a beta of 0.36. The stock’s fifty day moving average is $472.85 and its two-hundred day moving average is $475.14. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share 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 analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $3.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VRTX shares. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective on the stock. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals Company 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.