Marcum Wealth LLC Has $534,000 Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Marcum Wealth LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,326 shares of the pharmaceutical company’s stock after buying an additional 122 shares during the period. Marcum Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $534,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Whalen Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $662,000. Czech National Bank raised its stake in Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after purchasing an additional 3,260 shares in the last quarter. Creative Planning lifted its position in Vertex Pharmaceuticals by 5.3% during the second 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 lifted its position in 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 period. Finally, Nordea Investment Management AB grew its stake in Vertex Pharmaceuticals by 19.4% during the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock worth $137,783,000 after buying an additional 55,739 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 0.4 %

Shares of NASDAQ:VRTX opened at $411.66 on Wednesday. The business’s 50-day moving average is $445.93 and its 200-day moving average is $467.13. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a market capitalization of $106.01 billion, a price-to-earnings ratio of -206.86 and a beta of 0.40. 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 posted its quarterly 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 analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $3.67 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VRTX shares. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. BMO Capital Markets reduced their target price on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Barclays reduced their price objective on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group increased their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $490.38.

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.