Fiduciary Trust Co Has $5.59 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fiduciary Trust Co grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,013 shares of the pharmaceutical company’s stock after buying an additional 2,183 shares during the quarter. Fiduciary Trust Co’s holdings in Vertex Pharmaceuticals were worth $5,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter worth approximately $27,000. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $31,000. Finally, Founders Capital Management lifted its position in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Bank of America dropped their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Piper Sandler lifted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $504.38.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $464.56 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The company has a market capitalization of $119.64 billion, a PE ratio of -233.45 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a one year low of $346.29 and a one year high of $519.88. The business has a 50 day simple moving average of $472.81 and a 200 day simple moving average of $474.22.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate 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 was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $3.67 EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

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.