Pinpoint Asset Management Ltd Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Pinpoint Asset Management Ltd grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,260 shares of the pharmaceutical company’s stock after buying an additional 300 shares during the period. Vertex Pharmaceuticals makes up about 0.8% of Pinpoint Asset Management Ltd’s holdings, making the stock its 20th biggest holding. Pinpoint Asset Management Ltd’s holdings in Vertex Pharmaceuticals were worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Vertex Pharmaceuticals by 6.2% during the 2nd quarter. CWM LLC now owns 6,414 shares of the pharmaceutical company’s stock valued at $3,006,000 after buying an additional 374 shares in the last quarter. Csenge Advisory Group lifted its holdings in shares of Vertex Pharmaceuticals by 23.1% in the 2nd quarter. Csenge Advisory Group now owns 3,402 shares of the pharmaceutical company’s stock worth $1,595,000 after acquiring an additional 638 shares during the last quarter. Strategic Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 702.3% in the 2nd quarter. Strategic Advisors LLC now owns 4,461 shares of the pharmaceutical company’s stock worth $2,091,000 after acquiring an additional 3,905 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Vertex Pharmaceuticals by 34.4% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 8,881 shares of the pharmaceutical company’s stock valued at $4,163,000 after purchasing an additional 2,272 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth $74,213,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.9 %

Shares of VRTX stock opened at $456.97 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $347.51 and a fifty-two week high of $519.88. The firm has a market capitalization of $117.68 billion, a PE ratio of -229.63 and a beta of 0.36. 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 stock’s 50-day simple moving average is $472.87 and its 200-day simple moving average is $475.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.67 EPS. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VRTX. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price target 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. Finally, Citigroup assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $504.38.

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.