Vertex Pharmaceuticals Incorporated $VRTX Shares Newly Acquired by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, HoldingsChannel.com reports. The fund bought 1,230 shares of the pharmaceutical company’s stock, valued at approximately $643,000.

Several other hedge funds have also recently added to or reduced their stakes in VRTX. Summit Global Investments acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $3,568,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $13,823,000. UNIVEST FINANCIAL Corp acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $4,495,000. State Street Corp increased its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. State Street Corp now owns 11,871,459 shares of the pharmaceutical company’s stock worth $5,896,910,000 after purchasing an additional 141,320 shares in the last quarter. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $3,187,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $538.60 on Friday. The stock has a market capitalization of $136.56 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.87 and a beta of 0.28. The company has a current ratio of 2.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.17. Vertex Pharmaceuticals Incorporated has a 1-year low of $412.27 and a 1-year high of $568.67. The business has a 50-day moving average price of $522.37 and a two-hundred day moving average price of $483.84.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.06). Vertex Pharmaceuticals had a net margin of 30.70% and a return on equity of 21.98%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the company earned $4.80 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.10 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Leerink Partners began coverage on shares of Vertex Pharmaceuticals in a research note on Monday, September 21st. They set an “outperform” rating and a $594.00 price objective on the stock. Rothschild & Co Redburn raised their price objective on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Evercore lifted their target price on shares of Vertex Pharmaceuticals from $535.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Finally, Daiwa Securities Group increased their price target on Vertex Pharmaceuticals from $555.00 to $556.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $596.44.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF). Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.