World Investment Advisors LLC Makes New $24.28 Million Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

World Investment Advisors LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 52,206 shares of the pharmaceutical company's stock, valued at approximately $24,280,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ boosted its position in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company's stock worth $841,000 after purchasing an additional 21 shares in the last quarter. Mutual Advisors LLC grew its stake in Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company's stock valued at $1,751,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. raised its position in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company's stock worth $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company's stock valued at $516,000 after purchasing an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC increased its stake in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company's stock worth $374,000 after purchasing an additional 22 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Down 0.9 %

Shares of VRTX stock traded down $4.17 during trading on Thursday, hitting $464.12. The company had a trading volume of 956,574 shares, compared to its average volume of 1,186,074. Vertex Pharmaceuticals Incorporated has a one year low of $372.80 and a one year high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $473.12 and its 200 day moving average price is $475.88.

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 for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the company posted $3.67 EPS. The company's revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a "sell" rating in a report on Wednesday, November 6th. HC Wainwright reaffirmed a "buy" rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. StockNews.com cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $506.20.

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.