Vertex Pharmaceuticals Incorporated $VRTX Stock: Kestra Advisory Services LLC Boosts Holdings

Kestra Advisory Services LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 46.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 22,981 shares of the pharmaceutical company’s stock after buying an additional 7,249 shares during the period. Kestra Advisory Services LLC’s holdings in Vertex Pharmaceuticals were worth $12,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $11,975,849,000. State Street Corp boosted its stake in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. State Street Corp now owns 11,871,459 shares of the pharmaceutical company’s stock worth $5,896,910,000 after purchasing an additional 141,320 shares during the period. Wellington Management Group LLP grew its position in Vertex Pharmaceuticals by 1.1% during the 2nd quarter. Wellington Management Group LLP now owns 3,247,658 shares of the pharmaceutical company’s stock worth $1,613,209,000 after purchasing an additional 35,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Vertex Pharmaceuticals by 1.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,086,683 shares of the pharmaceutical company’s stock worth $1,533,248,000 after purchasing an additional 29,287 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $1,509,651,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $550.87 on Tuesday. The firm has a 50 day simple moving average of $522.98 and a 200 day simple moving average of $482.40. Vertex Pharmaceuticals Incorporated has a 52 week low of $410.50 and a 52 week high of $568.67. The stock has a market cap of $139.67 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.84 and a beta of 0.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.74 and a current ratio of 2.34.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.06). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.42 billion. Vertex Pharmaceuticals had a net margin of 30.70% and a return on equity of 21.98%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.80 EPS. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.10 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRTX shares. Rothschild & Co Redburn increased their target price on Vertex Pharmaceuticals from $570.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group lifted their price target on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Truist Financial upped their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen upped their price target on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Finally, Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $500.00 to $563.00 and gave the stock a “hold” rating in a research note on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $596.44.

Read Our Latest Stock Report on VRTX

Vertex Pharmaceuticals Profile

(Free Report)

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.

Vertex serves patients in the United States and international markets, including Europe.

See Also

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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