World Investment Advisors LLC Acquires New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

World Investment Advisors LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 52,206 shares of the pharmaceutical company’s stock, valued at approximately $24,280,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Groesbeck Investment Management Corp NJ lifted its stake in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares during the period. Mutual Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after acquiring an additional 22 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VRTX shares. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Finally, Scotiabank increased their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals Stock Up 0.5 %

VRTX stock opened at $462.10 on Friday. The company’s 50 day moving average price is $472.83 and its 200 day moving average price is $475.48. The firm has a market capitalization of $119.00 billion, a price-to-earnings ratio of -232.21 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $348.46 and a fifty-two week high of $519.88. 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 (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS 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.