Zhang Financial LLC Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Zhang Financial LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,631 shares of the pharmaceutical company’s stock after buying an additional 596 shares during the period. Zhang Financial LLC’s holdings in Vertex Pharmaceuticals were worth $1,865,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Dunhill Financial LLC grew its stake 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 buying an additional 24 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Finally, Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $35,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VRTX. Bank of America dropped their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Truist Financial dropped their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Stifel Nicolaus increased their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $490.38.

Vertex Pharmaceuticals Trading Up 1.2 %

Shares of VRTX opened at $422.00 on Monday. The firm has a fifty day moving average of $440.94 and a 200-day moving average of $466.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company posted $3.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current 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.