Moran Wealth Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,944 shares of the pharmaceutical company's stock after purchasing an additional 866 shares during the period. Moran Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $12,058,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Truvestments Capital LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 90.96% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on VRTX. HC Wainwright reiterated a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a "buy" rating and a $575.00 target price for the company. Oppenheimer cut Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Bank of America cut their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $506.70.
Check Out Our Latest Research Report on VRTX
Vertex Pharmaceuticals Trading Up 0.7 %
Shares of Vertex Pharmaceuticals stock traded up $3.60 during midday trading on Wednesday, reaching $491.94. The company had a trading volume of 302,115 shares, compared to its average volume of 1,463,603. The stock has a fifty day moving average price of $451.99 and a 200 day moving average price of $461.34. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a market cap of $126.33 billion, a PE ratio of -223.61, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.
Insider Activity
In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,084 shares of company stock valued at $505,512 in the last ninety days. 0.20% of the stock is owned by company insiders.
About Vertex Pharmaceuticals
(
Free Report)
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.
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