Vertex Pharmaceuticals Incorporated $VRTX Position Increased by Sigma Planning Corp

Sigma Planning Corp boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 249.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,609 shares of the pharmaceutical company’s stock after buying an additional 2,576 shares during the quarter. Sigma Planning Corp’s holdings in Vertex Pharmaceuticals were worth $1,884,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $26,000. Community Financial Services Group LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth $26,000. Elevation Wealth Partners LLC grew its holdings in shares of Vertex Pharmaceuticals by 103.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. Pingora Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $32,000. Finally, City Holding Co. raised its position in shares of Vertex Pharmaceuticals by 128.1% during the second quarter. City Holding Co. now owns 73 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 41 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.7%

Shares of Vertex Pharmaceuticals stock opened at $521.03 on Wednesday. The stock has a market cap of $132.24 billion, a PE ratio of 30.33 and a beta of 0.28. The business has a fifty day simple moving average of $523.05 and a 200-day simple moving average of $478.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $403.16 and a 12 month high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.52 EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 16.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays increased their price target on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. TD Cowen upped their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Finally, Daiwa Securities Group boosted their price target on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $579.81.

Vertex Pharmaceuticals News Summary

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Analysts are broadly bullish on Vertex, supporting investor confidence in the company’s long-term growth prospects. Analysts Are Bullish on These Healthcare Stocks: Vertex Pharmaceuticals (VRTX), Oxford BioMedica (OXBDF)
• Positive Sentiment: Several earnings previews anticipate a third-quarter beat, citing resilient demand for the cystic-fibrosis franchise Trikafta, growth from Alyftrek, and rising sales of Casgevy and Journavx. Vertex Gears Up to Report Q3 Earnings: Is a Beat in the Cards?
• Positive Sentiment: Investors are increasingly watching whether Casgevy and Journavx can help Vertex achieve management’s approximately $500 million non-cystic-fibrosis revenue target, which would demonstrate progress toward diversification. The $500 Million Non-CF Factor Vertex Investors Can’t Ignore on Nov. 2
• Neutral Sentiment: Vertex is scheduled to report third-quarter results on November 2. The report and management’s outlook are likely to be the next major catalysts for the stock.
• Neutral Sentiment: A comparison with Amgen found that Amgen generates substantially higher absolute revenue, while Vertex has delivered a steadier, gradual upward revenue trend over roughly the past eight quarters. Amgen vs. Vertex Pharmaceuticals: Massive Pharmaceutical Scale vs. Steady Drug Revenue
• Negative Sentiment: Recent ETF net selling and a prior session of underperformance versus broader market gains indicate some near-term selling pressure, though reported short interest was zero as of October 26. ETFs Are Net Sellers of Vertex Pharmaceuticals (VRTX) on Oct. 22

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.