Concord Wealth Partners Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Concord Wealth Partners grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,508 shares of the pharmaceutical company's stock after purchasing an additional 862 shares during the period. Concord Wealth Partners' holdings in Vertex Pharmaceuticals were worth $1,413,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VRTX. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $11,104,000. Centaurus Financial Inc. boosted its stake in Vertex Pharmaceuticals by 9.5% in the 2nd quarter. Centaurus Financial Inc. now owns 1,569 shares of the pharmaceutical company's stock worth $735,000 after purchasing an additional 136 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Vertex Pharmaceuticals by 161.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,601 shares of the pharmaceutical company's stock worth $1,210,000 after purchasing an additional 1,607 shares in the last quarter. Czech National Bank lifted its stake in Vertex Pharmaceuticals by 6.9% during the 3rd quarter. Czech National Bank now owns 52,578 shares of the pharmaceutical company's stock valued at $24,453,000 after acquiring an additional 3,404 shares during the period. Finally, Quent Capital LLC lifted its stake in Vertex Pharmaceuticals by 27.7% during the 3rd quarter. Quent Capital LLC now owns 540 shares of the pharmaceutical company's stock valued at $251,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Up 1.3 %

Shares of NASDAQ VRTX traded up $6.43 during mid-day trading on Wednesday, reaching $488.71. 1,078,587 shares of the company's stock were exchanged, compared to its average volume of 1,606,045. The firm has a market capitalization of $125.86 billion, a price-to-earnings ratio of -245.46, a PEG ratio of 2.39 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company's 50-day moving average is $435.03 and its 200-day moving average is $462.56.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on VRTX. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. HC Wainwright lifted their price objective on shares of Vertex Pharmaceuticals from $535.00 to $550.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Truist Financial decreased their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.