E. Ohman J or Asset Management AB raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 552.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 57,554 shares of the pharmaceutical company’s stock after acquiring an additional 48,731 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Vertex Pharmaceuticals were worth $30,090,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Community Financial Services Group LLC purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 28 shares during the period. Pingora Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $32,000. Finally, City Holding Co. grew its stake in shares of Vertex Pharmaceuticals by 128.1% in the second quarter. City Holding Co. now owns 73 shares of the pharmaceutical company’s stock worth $36,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.
Vertex Pharmaceuticals Stock Up 2.0%
VRTX stock opened at $535.17 on Friday. The business has a fifty day moving average of $523.15 and a 200-day moving average of $482.96. Vertex Pharmaceuticals Incorporated has a twelve month low of $403.16 and a twelve month high of $560.25. The company has a market cap of $135.83 billion, a P/E ratio of 31.15, a PEG ratio of 2.51 and a beta of 0.28.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.52 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.75 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently issued reports on VRTX. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $560.00 price objective (up from $515.00) on shares of Vertex Pharmaceuticals in a research note on Friday, September 11th. Truist Financial boosted their price objective on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. UBS Group raised their price objective on shares of Vertex Pharmaceuticals from $585.00 to $615.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Jefferies Financial Group lifted their price target on Vertex Pharmaceuticals from $633.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, The Goldman Sachs Group set a $653.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $579.81.
View Our Latest Research Report on VRTX
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.
Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.
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