Fiduciary Trust Co Has $5.59 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fiduciary Trust Co boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.2% in the third quarter, HoldingsChannel reports. The firm owned 12,013 shares of the pharmaceutical company’s stock after acquiring an additional 2,183 shares during the period. Fiduciary Trust Co’s holdings in Vertex Pharmaceuticals were worth $5,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FORA Capital LLC increased its stake in shares of Vertex Pharmaceuticals by 15.0% in the 3rd quarter. FORA Capital LLC now owns 9,402 shares of the pharmaceutical company’s stock valued at $4,373,000 after buying an additional 1,229 shares during the period. CreativeOne Wealth LLC lifted its holdings in Vertex Pharmaceuticals by 76.6% during the third quarter. CreativeOne Wealth LLC now owns 7,475 shares of the pharmaceutical company’s stock worth $3,476,000 after acquiring an additional 3,242 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Vertex Pharmaceuticals by 107.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,065 shares of the pharmaceutical company’s stock worth $22,819,000 after acquiring an additional 25,375 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in Vertex Pharmaceuticals by 3.7% during the third quarter. Freedom Investment Management Inc. now owns 4,714 shares of the pharmaceutical company’s stock worth $2,192,000 after acquiring an additional 168 shares in the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Vertex Pharmaceuticals by 31.6% in the third quarter. Townsquare Capital LLC now owns 15,054 shares of the pharmaceutical company’s stock valued at $7,001,000 after purchasing an additional 3,616 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.5 %

Shares of VRTX stock opened at $464.56 on Friday. 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 market cap of $119.64 billion, a P/E ratio of -233.45 and a beta of 0.39. The stock has a 50 day simple moving average of $472.81 and a 200 day simple moving average of $474.22. Vertex Pharmaceuticals Incorporated has a 1 year low of $346.29 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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 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 firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 earnings per share. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Scotiabank boosted their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Piper Sandler boosted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, UBS Group lifted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $504.38.

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.