Bourgeon Capital Management LLC Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bourgeon Capital Management LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,356 shares of the pharmaceutical company’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Edgewood Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the last quarter. Wellington Management Group LLP increased its position in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after buying an additional 704,421 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after buying an additional 528,029 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after acquiring an additional 324,188 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. HC Wainwright cut their price target on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Scotiabank upped their price target on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $490.38.

Vertex Pharmaceuticals Trading Up 1.4 %

Shares of NASDAQ:VRTX opened at $427.89 on Wednesday. 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 firm has a fifty day moving average price of $439.34 and a 200 day moving average price of $465.72. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

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, 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 firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the firm posted $3.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal year.

Vertex Pharmaceuticals 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.