Brooklyn Investment Group Buys 33 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Brooklyn Investment Group increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,906 shares of the pharmaceutical company’s stock after purchasing an additional 33 shares during the quarter. Brooklyn Investment Group’s holdings in Vertex Pharmaceuticals were worth $768,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of VRTX. Edgewood Management LLC grew its stake in Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares in the last quarter. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Vertex Pharmaceuticals by 169.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after purchasing an additional 528,029 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Vertex Pharmaceuticals by 74,015.5% during the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after purchasing an additional 324,188 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.2 %

Shares of VRTX opened at $422.00 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm’s 50-day simple moving average is $442.83 and its two-hundred day simple moving average is $466.48.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.67 earnings per share. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRTX shares. Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Oppenheimer lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $490.38.

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.