HB Wealth Management LLC Acquires 392 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

HB Wealth Management LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,767 shares of the pharmaceutical company’s stock after acquiring an additional 392 shares during the period. HB Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $3,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Dunhill Financial LLC grew its holdings in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Finally, Truvestments Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VRTX. Citigroup assumed coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. BMO Capital Markets dropped their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, December 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $490.38.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $422.00 on Monday. The business’s fifty day moving average is $440.94 and its 200 day moving average is $466.09. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 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 company has a market capitalization of $108.68 billion, a PE ratio of -212.06, a price-to-earnings-growth ratio of 2.11 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) 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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the company posted $3.67 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current 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.