Channel Wealth LLC Purchases New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Channel Wealth LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,778 shares of the pharmaceutical company’s stock, valued at approximately $716,000.

Several other large investors also recently added to or reduced their stakes in the stock. Mutual Advisors LLC lifted its holdings in shares of 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 during the last quarter. Daymark Wealth Partners LLC lifted its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after buying an additional 22 shares during the last quarter. Grove Bank & Trust lifted its stake in Vertex Pharmaceuticals by 5.7% in the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares during the last quarter. Outlook Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after acquiring an additional 24 shares during the period. Finally, Dunhill Financial LLC grew its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Monday. Bank of America lowered their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley upped their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $490.38.

Vertex Pharmaceuticals Stock Down 1.7 %

VRTX stock opened at $416.96 on Friday. 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 Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company’s 50 day simple moving average is $444.54 and its 200-day simple moving average is $466.83.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the business posted $3.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

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.