Insigneo Advisory Services LLC Grows Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Insigneo Advisory Services LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,314 shares of the pharmaceutical company’s stock after buying an additional 65 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Vertex Pharmaceuticals were worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of VRTX. Kovitz Investment Group Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 14.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,083 shares of the pharmaceutical company’s stock valued at $15,433,000 after acquiring an additional 4,638 shares in the last quarter. Wellington Management Group LLP raised its stake in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the period. State Street Corp lifted its holdings in Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after purchasing an additional 90,173 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Vertex Pharmaceuticals by 36.2% in the 3rd quarter. Quantinno Capital Management LP now owns 19,695 shares of the pharmaceutical company’s stock worth $9,160,000 after purchasing an additional 5,238 shares during the period. Finally, Reynders McVeigh Capital Management LLC grew its holdings in Vertex Pharmaceuticals by 14.8% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 48,730 shares of the pharmaceutical company’s stock valued at $22,663,000 after buying an additional 6,269 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.5 %

Shares of VRTX opened at $462.10 on Friday. The firm has a market capitalization of $119.00 billion, a P/E ratio of -232.21 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12-month low of $348.46 and a 12-month high of $519.88. The firm has a fifty day moving average price of $472.83 and a 200-day moving average price of $475.48. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $3.67 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on VRTX. Citigroup initiated coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Scotiabank increased their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Bank of America decreased their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. 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 issued a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus 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.