Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Harmony Asset Management LLC

Harmony Asset Management LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,917 shares of the pharmaceutical company’s stock after purchasing an additional 777 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 1.2% of Harmony Asset Management LLC’s holdings, making the stock its 22nd largest position. Harmony Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $3,217,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VRTX. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $31,000. Finally, Founders Capital Management lifted its position in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.5 %

VRTX stock opened at $465.73 on Tuesday. The firm has a 50 day simple moving average of $472.87 and a two-hundred day simple moving average of $475.06. Vertex Pharmaceuticals Incorporated has a one year low of $347.51 and a one year 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 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 company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the company earned $3.67 EPS. The firm’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 -1.83 EPS for the current year.

Analyst Ratings Changes

VRTX has been the topic of several research reports. Royal Bank of Canada upped their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Citigroup started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, Oppenheimer reduced their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals currently 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.