UNIVEST FINANCIAL Corp raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 140.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,785 shares of the pharmaceutical company’s stock after acquiring an additional 12,736 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Vertex Pharmaceuticals were worth $11,389,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of VRTX. MADDEN SECURITIES Corp bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $26,000. Community Financial Services Group LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $26,000. Elevation Wealth Partners LLC boosted its position in Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 28 shares in the last quarter. Finally, Pingora Partners LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at about $32,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Price Performance
Vertex Pharmaceuticals stock opened at $547.03 on Thursday. The firm has a market capitalization of $138.69 billion, a P/E ratio of 35.20, a PEG ratio of 2.90 and a beta of 0.28. The business has a 50-day moving average of $523.04 and a 200-day moving average of $483.19. The company has a current ratio of 2.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.17. Vertex Pharmaceuticals Incorporated has a 1 year low of $412.27 and a 1 year high of $568.67.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.06). Vertex Pharmaceuticals had a return on equity of 21.98% and a net margin of 30.70%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business earned $4.80 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.10 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have weighed in on VRTX. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Daiwa Securities Group lifted their target price on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lifted their target price on shares of Vertex Pharmaceuticals from $550.00 to $650.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. UBS Group boosted their target price on Vertex Pharmaceuticals from $615.00 to $640.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Finally, Rothschild & Co Redburn increased their price target on Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $596.44.
Check Out Our Latest Stock Report on VRTX
Vertex Pharmaceuticals Company Profile
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.
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