Groesbeck Investment Management Corp NJ Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Groesbeck Investment Management Corp NJ raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,869 shares of the pharmaceutical company’s stock after buying an additional 100 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Vertex Pharmaceuticals were worth $753,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 2.5 %

NASDAQ VRTX opened at $482.28 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-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 company has a fifty day moving average of $434.73 and a 200-day moving average of $462.62.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping 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 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 firm posted $3.67 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on VRTX. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Oppenheimer lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Barclays cut their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.