Continuum Advisory LLC Has $757,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Continuum Advisory LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,565 shares of the pharmaceutical company’s stock after selling 116 shares during the quarter. Continuum Advisory LLC’s holdings in Vertex Pharmaceuticals were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth $662,000. Creative Planning grew its position in Vertex Pharmaceuticals by 5.3% during the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after acquiring an additional 3,998 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in Vertex Pharmaceuticals by 289.0% in the 3rd 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 in the last quarter. Blue Trust Inc. raised its position in Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $21,008,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VRTX. Scotiabank upped their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer lowered their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $506.20.

Vertex Pharmaceuticals Trading Up 2.6 %

Shares of Vertex Pharmaceuticals stock opened at $473.98 on Tuesday. 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 Incorporated has a 52 week low of $351.44 and a 52 week high of $519.88. The stock has a 50 day moving average price of $473.01 and a two-hundred day moving average price of $475.84. The stock has a market capitalization of $122.06 billion, a PE ratio of -238.18 and a beta of 0.36.

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

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.