WCM Investment Management LLC Purchases New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

WCM Investment Management LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,091,522 shares of the pharmaceutical company’s stock, valued at approximately $435,899,000. WCM Investment Management LLC owned approximately 0.42% of Vertex Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VRTX. Edgewood Management LLC raised its holdings in Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 18.1% during the third 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 during the last quarter. Wellington Management Group LLP increased its stake in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after purchasing an additional 528,029 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in 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 purchasing an additional 324,188 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $469.32 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $120.86 billion, a price-to-earnings ratio of -235.84, a PEG ratio of 1.80 and a beta of 0.41. The firm has a 50-day moving average of $435.87 and a two-hundred day moving average of $462.68.

Analysts Set New Price Targets

Several research firms have weighed in on VRTX. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Truist Financial lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $502.58.

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.