Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Lessened by Davis Investment Partners LLC

Davis Investment Partners LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 41.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,354 shares of the pharmaceutical company’s stock after selling 953 shares during the period. Davis Investment Partners LLC’s holdings in Vertex Pharmaceuticals were worth $708,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. MADDEN SECURITIES Corp acquired a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $26,000. Community Financial Services Group LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. Finally, Pingora Partners LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $32,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial increased their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Vertex Pharmaceuticals from $576.00 to $600.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Sanford C. Bernstein raised Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Evercore increased their price objective on Vertex Pharmaceuticals from $535.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $596.44.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $547.89 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 2.34 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $138.91 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.28. Vertex Pharmaceuticals Incorporated has a twelve month low of $412.27 and a twelve month high of $568.67. The company has a 50-day simple moving average of $523.05 and a two-hundred day simple moving average of $482.80.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.06). Vertex Pharmaceuticals had a return on equity of 21.98% and a net margin of 30.70%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the previous year, the company earned $4.80 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.10 EPS for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF). Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.