McHugh Group LLC Makes New $201,000 Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

McHugh Group LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 500 shares of the pharmaceutical company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Edgewood Management LLC lifted its position in shares of Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares during the period. Jennison Associates LLC raised its holdings in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the last quarter. Wellington Management Group LLP boosted its position in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Vertex Pharmaceuticals by 169.4% in the fourth 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 during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after buying an additional 324,188 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VRTX shares. Stifel Nicolaus boosted their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Barclays cut their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Stock Up 1.3 %

NASDAQ:VRTX opened at $488.44 on Thursday. The firm has a market capitalization of $125.79 billion, a PE ratio of -245.45, a price-to-earnings-growth ratio of 2.39 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $435.51 and a 200-day moving average of $462.74.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $3.67 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post -1.93 EPS 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.