First Pacific Financial Raises Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First Pacific Financial lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,725 shares of the pharmaceutical company’s stock after purchasing an additional 747 shares during the period. First Pacific Financial’s holdings in Vertex Pharmaceuticals were worth $695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $33,000. Finally, Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter worth about $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $416.96 on Friday. The firm has a fifty day moving average of $444.54 and a 200-day moving average of $466.83. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Analyst Ratings Changes

VRTX has been the subject of several research analyst reports. 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. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Bank of America dropped their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $490.38.

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.