Concord Asset Management LLC VA Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Concord Asset Management LLC VA lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,568 shares of the pharmaceutical company’s stock after buying an additional 741 shares during the quarter. Concord Asset Management LLC VA’s holdings in Vertex Pharmaceuticals were worth $1,437,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of VRTX. Chicago Partners Investment Group LLC raised its stake in Vertex Pharmaceuticals by 69.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 807 shares of the pharmaceutical company’s stock valued at $333,000 after buying an additional 332 shares during the last quarter. Caprock Group LLC raised its position in shares of Vertex Pharmaceuticals by 2.9% in the 4th quarter. Caprock Group LLC now owns 39,184 shares of the pharmaceutical company’s stock worth $15,780,000 after purchasing an additional 1,096 shares during the last quarter. BTC Capital Management Inc. boosted its stake in Vertex Pharmaceuticals by 5.3% in the 4th quarter. BTC Capital Management Inc. now owns 11,030 shares of the pharmaceutical company’s stock worth $4,430,000 after purchasing an additional 557 shares in the last quarter. Boomfish Wealth Group LLC grew its position in Vertex Pharmaceuticals by 5.6% during the 4th quarter. Boomfish Wealth Group LLC now owns 5,092 shares of the pharmaceutical company’s stock valued at $2,051,000 after purchasing an additional 268 shares during the last quarter. Finally, Mediolanum International Funds Ltd increased its stake in Vertex Pharmaceuticals by 7.6% during the 4th quarter. Mediolanum International Funds Ltd now owns 5,701 shares of the pharmaceutical company’s stock valued at $2,271,000 after purchasing an additional 402 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $461.68 on Friday. The stock has a market capitalization of $118.90 billion, a price-to-earnings ratio of -232.00, a PEG ratio of 2.29 and a beta of 0.40. 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 fifty day moving average of $434.55 and a 200 day moving average of $463.11.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the business posted $3.67 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on VRTX shares. JPMorgan Chase & Co. cut their price target 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. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday. Scotiabank lifted their price objective on Vertex Pharmaceuticals from $430.00 to $433.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Stifel Nicolaus upped their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $502.58.

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.