Kestra Investment Management LLC Acquires 516 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kestra Investment Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 28.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,315 shares of the pharmaceutical company’s stock after acquiring an additional 516 shares during the period. Kestra Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,077,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. B&L Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $2,853,000. Erste Asset Management GmbH bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $29,401,000. Captrust Financial Advisors increased its position in shares of Vertex Pharmaceuticals by 2.2% during the third quarter. Captrust Financial Advisors now owns 14,409 shares of the pharmaceutical company’s stock worth $6,701,000 after acquiring an additional 307 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Vertex Pharmaceuticals by 4.6% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,558 shares of the pharmaceutical company’s stock valued at $3,515,000 after purchasing an additional 329 shares during the period. Finally, Icon Wealth Advisors LLC lifted its stake in Vertex Pharmaceuticals by 3.6% in the 3rd quarter. Icon Wealth Advisors LLC now owns 2,403 shares of the pharmaceutical company’s stock valued at $1,118,000 after acquiring an additional 83 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.8 %

Shares of NASDAQ VRTX opened at $468.13 on Monday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a market cap of $120.56 billion, a P/E ratio of -235.24 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52 week low of $347.51 and a 52 week high of $519.88. The business has a 50-day simple moving average of $472.87 and a two-hundred day simple moving average of $475.06.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on VRTX. Canaccord Genuity Group boosted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Truist Financial restated a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Bank of America reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Oppenheimer reduced their price target 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have given 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, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $504.38.

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.