Premier Path Wealth Partners LLC Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Premier Path Wealth Partners LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,686 shares of the pharmaceutical company’s stock after buying an additional 80 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Czech National Bank grew its position in Vertex Pharmaceuticals by 6.2% during the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the period. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $662,000. Creative Planning grew its holdings in shares of Vertex Pharmaceuticals by 5.3% during the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares during the period. Mizuho Securities USA LLC increased its position in Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Vertex Pharmaceuticals by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after buying an additional 55,739 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRTX. Scotiabank raised their target price on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.38.

Vertex Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ: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 1-year low of $377.85 and a 1-year high of $519.88. The company has a 50 day moving average price of $440.94 and a 200 day moving average price of $466.14.

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

Vertex Pharmaceuticals Company 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.