Legacy Investment Solutions LLC Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, HoldingsChannel reports. The institutional investor bought 66 shares of the pharmaceutical company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $662,000. Creative Planning boosted its holdings in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC grew its position in Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after buying an additional 57,497 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after buying an additional 1,248 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $21,008,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.5 %

NASDAQ:VRTX opened at $462.10 on Monday. The stock’s 50 day moving average price is $472.83 and its 200 day moving average price is $475.68. 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 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 results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.67 EPS. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the topic of a number of recent research reports. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Three equities research 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. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $504.38.

About Vertex Pharmaceuticals

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.