Townsquare Capital LLC Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Townsquare Capital LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 31.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,054 shares of the pharmaceutical company’s stock after acquiring an additional 3,616 shares during the period. Townsquare Capital LLC’s holdings in Vertex Pharmaceuticals were worth $7,001,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Scotiabank increased their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Oppenheimer reduced their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Guggenheim boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Finally, UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $504.38.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of VRTX stock opened at $464.56 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $346.29 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 business’s fifty day moving average is $472.81 and its 200-day moving average is $474.22.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company earned $3.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal 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.