IFP Advisors Inc boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 54.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,636 shares of the pharmaceutical company’s stock after purchasing an additional 577 shares during the quarter. IFP Advisors Inc’s holdings in Vertex Pharmaceuticals were worth $315,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Kaizen Advisory LLC raised its stake in shares of Vertex Pharmaceuticals by 147.3% in the 2nd quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 358 shares in the last quarter. Sun Life Financial INC raised its stake in shares of Vertex Pharmaceuticals by 266.1% in the 2nd quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock valued at $118,000 after buying an additional 503 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $125,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Vertex Pharmaceuticals by 3,126.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock valued at $126,000 after buying an additional 719 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $169,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.
VRTX has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their target price on shares of Vertex Pharmaceuticals from $204.00 to $192.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. HC Wainwright upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Friday, October 26th. Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $207.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Raymond James set a $201.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 25th. Finally, Oppenheimer increased their target price on shares of Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Vertex Pharmaceuticals currently has an average rating of “Buy” and an average price target of $202.14.
Shares of NASDAQ:VRTX opened at $175.23 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $136.50 and a 12 month high of $194.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.71. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 219.04, a P/E/G ratio of 1.72 and a beta of 1.61.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, October 24th. The pharmaceutical company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Vertex Pharmaceuticals had a net margin of 22.87% and a return on equity of 22.92%. The firm had revenue of $784.54 million for the quarter, compared to analyst estimates of $782.95 million. During the same quarter in the prior year, the firm earned $0.53 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 2.55 earnings per share for the current fiscal year.
In other news, EVP David Altshuler sold 2,445 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $194.62, for a total value of $475,845.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas Graney sold 1,076 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $193.24, for a total transaction of $207,926.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,425 shares of company stock worth $5,095,719. Insiders own 0.75% of the company’s stock.
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Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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