Concord Wealth Partners Has $1.41 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Concord Wealth Partners lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 32.6% during the 4th quarter, Holdings Channel reports. The firm owned 3,508 shares of the pharmaceutical company’s stock after purchasing an additional 862 shares during the period. Concord Wealth Partners’ holdings in Vertex Pharmaceuticals were worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC boosted its position in 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 buying an additional 24 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $33,000. Finally, Truvestments Capital LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $35,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 5.3 %

Shares of NASDAQ:VRTX opened at $461.68 on Friday. The stock has a market cap of $118.90 billion, a price-to-earnings ratio of -232.00, a PEG ratio of 2.29 and a beta of 0.40. The business’s 50 day moving average is $434.55 and its 200 day moving average is $463.11. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. 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 business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.67 EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. BMO Capital Markets dropped their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Piper Sandler reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Stifel Nicolaus raised their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, 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 note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $502.58.

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.