J2 Capital Management Inc Acquires New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

J2 Capital Management Inc purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 671 shares of the pharmaceutical company's stock, valued at approximately $270,000.

Other hedge funds have also made changes to their positions in the company. Czech National Bank grew its stake in Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock worth $22,486,000 after purchasing an additional 3,260 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $662,000. Creative Planning increased its stake in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company's stock worth $37,084,000 after buying an additional 3,998 shares during the period. Mizuho Securities USA LLC raised its holdings in Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company's stock valued at $35,994,000 after acquiring an additional 57,497 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Vertex Pharmaceuticals by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company's stock worth $137,783,000 after acquiring an additional 55,739 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $5.04 during midday trading on Friday, hitting $422.00. The stock had a trading volume of 1,771,827 shares, compared to its average volume of 1,811,179. The company has a market capitalization of $108.68 billion, a PE ratio of -212.06, a P/E/G ratio of 2.11 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a 50 day moving average price of $440.94 and a two-hundred day moving average price of $466.09. 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 released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for 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%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bank of America dropped their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $600.00 to $535.00 and set a "buy" rating for the company in a report on Friday, December 20th. Raymond James reiterated a "market perform" rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, StockNews.com cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $490.38.

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.