Hohimer Wealth Management LLC Buys 70 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hohimer Wealth Management LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,320 shares of the pharmaceutical company’s stock after purchasing an additional 70 shares during the period. Hohimer Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $27,000. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $31,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VRTX. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Bank of America cut their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.20.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $469.22 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $351.44 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The stock has a market cap of $120.84 billion, a P/E ratio of -235.79 and a beta of 0.36. The firm’s fifty day moving average price is $473.01 and its 200-day moving average price is $475.84.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating 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 business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts expect 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.