Wilmington Savings Fund Society FSB Acquires New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wilmington Savings Fund Society FSB bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, HoldingsChannel.com reports. The firm bought 4,702 shares of the pharmaceutical company’s stock, valued at approximately $2,187,000.

Several other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% during 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 during the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth $31,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $463.73 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $391.01 and a fifty-two week high of $519.88. The company has a market capitalization of $119.42 billion, a PE ratio of -233.03 and a beta of 0.36. The company has a 50 day moving average price of $473.50 and a 200-day moving average price of $475.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during 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 prior year, the business earned $3.67 EPS. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VRTX shares. Citigroup began coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target on the stock. Oppenheimer decreased their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $506.20.

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.