Icon Wealth Advisors LLC Buys 83 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Icon Wealth Advisors LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,403 shares of the pharmaceutical company’s stock after purchasing an additional 83 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Finally, Founders Capital Management boosted its position in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.8 %

Shares of Vertex Pharmaceuticals stock opened at $468.13 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $347.51 and a 52-week high of $519.88. The firm’s 50 day moving average price is $472.87 and its 200-day moving average price is $474.48. 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 market cap of $120.56 billion, a P/E ratio of -235.24 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results 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. The business 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 business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 earnings per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VRTX. HC Wainwright reissued a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $504.38.

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.