Navellier & Associates Inc. increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,427 shares of the pharmaceutical company’s stock after buying an additional 395 shares during the quarter. Navellier & Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $4,602,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC increased its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $33,000. Finally, Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $35,000. Institutional investors own 90.96% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on VRTX. Truist Financial raised their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the company from $500.00 to $550.00 in a report on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $505.61.
Insiders Place Their Bets
In other news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Up 0.8 %
VRTX stock opened at $484.24 on Friday. The business’s 50-day moving average price is $436.05 and its two-hundred day moving average price is $460.70. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.
Vertex Pharmaceuticals Profile
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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