PFG Investments LLC Raises Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

PFG Investments LLC raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,817 shares of the pharmaceutical company’s stock after buying an additional 44 shares during the quarter. PFG Investments LLC’s holdings in Vertex Pharmaceuticals were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at about $25,000. Dunhill Financial LLC grew its stake in shares of 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 during the period. 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 bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Finally, Truvestments Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $35,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $441.52 on Thursday. The firm has a market capitalization of $113.70 billion, a price-to-earnings ratio of -221.87, a PEG ratio of 2.20 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The business has a 50 day simple moving average of $434.75 and a 200-day simple moving average of $463.64. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 24th. Truist Financial lowered their price objective 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, Bank of America reduced their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $494.76.

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.