TD Private Client Wealth LLC Has $6.37 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TD Private Client Wealth LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.3% in the third quarter, Holdings Channel.com reports. The fund owned 13,687 shares of the pharmaceutical company’s stock after acquiring an additional 3,494 shares during the quarter. TD Private Client Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $6,366,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $469.22 on Wednesday. The firm has a fifty day simple moving average of $473.01 and a two-hundred day simple moving average of $475.84. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $351.44 and a twelve month high of $519.88. The company has a market capitalization of $120.84 billion, a PE ratio of -235.79 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.67 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Scotiabank raised 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. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. lowered their price objective 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. Finally, Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.20.

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.