Anchor Investment Management LLC Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Anchor Investment Management LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1,352.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,583 shares of the pharmaceutical company's stock after purchasing an additional 1,474 shares during the quarter. Anchor Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $736,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of VRTX. Advisory Resource Group lifted its stake in Vertex Pharmaceuticals by 3.2% during the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after purchasing an additional 61 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 3.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 2,320 shares of the pharmaceutical company's stock valued at $1,079,000 after buying an additional 70 shares during the period. Soltis Investment Advisors LLC lifted its stake in Vertex Pharmaceuticals by 11.9% during the 3rd quarter. Soltis Investment Advisors LLC now owns 778 shares of the pharmaceutical company's stock worth $362,000 after acquiring an additional 83 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Vertex Pharmaceuticals by 34.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 13,687 shares of the pharmaceutical company's stock valued at $6,366,000 after acquiring an additional 3,494 shares during the period. Finally, Toronto Dominion Bank grew its position in Vertex Pharmaceuticals by 2.4% in the 3rd quarter. Toronto Dominion Bank now owns 134,202 shares of the pharmaceutical company's stock valued at $62,415,000 after acquiring an additional 3,096 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VRTX shares. Royal Bank of Canada boosted their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 5th. Scotiabank upped their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 5th. UBS Group lifted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group upped their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a "sell" rating in a research note on Wednesday, November 6th. Finally, Oppenheimer decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $506.20.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $0.39 during mid-day trading on Friday, hitting $463.73. 1,097,080 shares of the company's stock were exchanged, compared to its average volume of 1,185,713. The firm has a market capitalization of $119.42 billion, a P/E ratio of -233.03 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $391.01 and a fifty-two week high of $519.88. The business's 50 day moving average is $473.33 and its two-hundred day moving average is $475.80. 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 announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating 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 company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the business posted $3.67 EPS. The company's revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

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.