1,778 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Bought by Channel Wealth LLC

Channel Wealth LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,778 shares of the pharmaceutical company's stock, valued at approximately $716,000.

Several other large investors also recently made changes to their positions in VRTX. Axxcess Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 9.7% during the second quarter. Axxcess Wealth Management LLC now owns 2,445 shares of the pharmaceutical company's stock worth $1,146,000 after buying an additional 217 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in Vertex Pharmaceuticals by 2.2% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 1,896 shares of the pharmaceutical company's stock valued at $889,000 after acquiring an additional 40 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Vertex Pharmaceuticals by 23.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 16,503 shares of the pharmaceutical company's stock valued at $7,697,000 after purchasing an additional 3,106 shares during the last quarter. Blair William & Co. IL increased its holdings in Vertex Pharmaceuticals by 25.7% during the 2nd quarter. Blair William & Co. IL now owns 89,108 shares of the pharmaceutical company's stock worth $41,767,000 after purchasing an additional 18,197 shares in the last quarter. Finally, Waterloo Capital L.P. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $352,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VRTX shares. BMO Capital Markets decreased their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating for the company in a report on Friday, December 20th. HC Wainwright lowered their target price on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a "buy" rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. StockNews.com lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 21st. Finally, Truist Financial reduced their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $490.38.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded up $5.15 during midday trading on Friday, hitting $422.11. 1,195,552 shares of the company's stock were exchanged, compared to its average volume of 1,481,391. The business's fifty day moving average price is $442.83 and its two-hundred day moving average price is $466.48. The company has a market cap of $108.71 billion, a price-to-earnings ratio of -212.11, a PEG ratio of 2.11 and a beta of 0.40. 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 Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter last year, the company posted $3.67 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

Vertex Pharmaceuticals 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.