Kestra Investment Management LLC Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kestra Investment Management LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 28.7% in the 3rd quarter, Holdings Channel reports. The fund owned 2,315 shares of the pharmaceutical company’s stock after buying an additional 516 shares during the quarter. Kestra Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ boosted its stake in shares of Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after purchasing an additional 21 shares in the last quarter. Mutual Advisors LLC boosted its position in Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Finally, Bank of America cut their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $468.13 on Monday. The company has a market capitalization of $120.56 billion, a PE ratio of -235.24 and a beta of 0.39. The business has a fifty day moving average price of $472.87 and a 200-day moving average price of $475.06. Vertex Pharmaceuticals Incorporated has a 1-year low of $347.51 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts expect 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.