Reynders McVeigh Capital Management LLC Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Reynders McVeigh Capital Management LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,730 shares of the pharmaceutical company’s stock after acquiring an additional 6,269 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $22,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Vertex Pharmaceuticals by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after buying an additional 159,693 shares during the period. Janus Henderson Group PLC boosted its position in shares of Vertex Pharmaceuticals by 4.1% in the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after buying an additional 100,114 shares during the period. Legal & General Group Plc boosted its position in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after buying an additional 29,104 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,626,347 shares of the pharmaceutical company’s stock worth $756,381,000 after buying an additional 20,361 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

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

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates 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 revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $3.67 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VRTX shares. Royal Bank of Canada increased their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Oppenheimer reduced their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price 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.