Stonegate Investment Group LLC Purchases 41 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Stonegate Investment Group LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,509 shares of the pharmaceutical company’s stock after acquiring an additional 41 shares during the quarter. Stonegate Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $33,000. Finally, Truvestments Capital LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at about $35,000. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $494.76.

Vertex Pharmaceuticals Trading Up 1.0 %

VRTX opened at $443.88 on Tuesday. The company’s 50 day moving average is $435.36 and its 200-day moving average is $464.32. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a market cap of $114.31 billion, a P/E ratio of -223.06, a PEG ratio of 2.20 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $3.67 EPS. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company 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.