1,321 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by SGL Investment Advisors Inc.

SGL Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,321 shares of the pharmaceutical company’s stock, valued at approximately $639,000.

Other hedge funds also recently modified their holdings of the company. Whalen Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $662,000. Creative Planning lifted its stake in shares of Vertex Pharmaceuticals by 5.3% during the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of Vertex Pharmaceuticals by 289.0% during the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares during the last quarter. Blue Trust Inc. grew its position in shares of Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $21,008,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VRTX shares. Canaccord Genuity Group upped their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. UBS Group boosted their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer cut their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $504.38.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $462.10 on Monday. Vertex Pharmaceuticals Incorporated has a 52 week low of $348.46 and a 52 week 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 stock has a 50 day moving average of $472.83 and a 200-day moving average of $475.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 earnings per share. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current 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.