Erste Asset Management GmbH Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Erste Asset Management GmbH acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 63,514 shares of the pharmaceutical company’s stock, valued at approximately $29,401,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VRTX. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $31,000. Finally, Founders Capital Management raised its stake 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 acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VRTX. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals Stock Up 0.8 %

Vertex Pharmaceuticals stock opened at $468.13 on Friday. The firm has a market capitalization of $120.56 billion, a price-to-earnings ratio of -235.24 and a beta of 0.39. The firm’s fifty day moving average price is $472.87 and its two-hundred day moving average price is $474.80. Vertex Pharmaceuticals Incorporated has a 1-year low of $347.51 and a 1-year high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during 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 company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.67 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

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.