Castleark Management LLC Boosts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Castleark Management LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,725 shares of the pharmaceutical company’s stock after buying an additional 35,922 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 1.6% of Castleark Management LLC’s portfolio, making the stock its 16th biggest position. Castleark Management LLC’s holdings in Vertex Pharmaceuticals were worth $38,474,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals in the third quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $31,000. Finally, Truvestments Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $35,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.5 %

VRTX opened at $462.10 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $472.85 and its 200 day simple moving average is $475.14. Vertex Pharmaceuticals Incorporated has a 52 week low of $348.46 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the firm posted $3.67 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Oppenheimer cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals 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.