Mitchell Mcleod Pugh & Williams Inc. Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 507 shares of the pharmaceutical company’s stock, valued at approximately $204,000.

Several other institutional investors also recently bought and sold shares of VRTX. Pacer Advisors Inc. raised its position in Vertex Pharmaceuticals by 2.9% during the second quarter. Pacer Advisors Inc. now owns 38,326 shares of the pharmaceutical company’s stock worth $17,964,000 after acquiring an additional 1,085 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Vertex Pharmaceuticals by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 94,794 shares of the pharmaceutical company’s stock worth $44,432,000 after purchasing an additional 5,827 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $77,000. EverSource Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 5.8% during the second quarter. EverSource Wealth Advisors LLC now owns 598 shares of the pharmaceutical company’s stock worth $296,000 after acquiring an additional 33 shares during the last quarter. Finally, Cyrus J. Lawrence LLC boosted its stake in Vertex Pharmaceuticals by 93.1% during the second quarter. Cyrus J. Lawrence LLC now owns 26,488 shares of the pharmaceutical company’s stock worth $12,415,000 after buying an additional 12,769 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $422.00 on Tuesday. 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 quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $440.94 and its two-hundred day moving average is $466.06.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 earnings per share. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup started coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Three equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.38.

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.