Schechter Investment Advisors LLC Raises Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Schechter Investment Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,920 shares of the pharmaceutical company’s stock after acquiring an additional 563 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,176,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC increased its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given 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 a consensus price target of $506.70.

Vertex Pharmaceuticals Trading Up 0.7 %

NASDAQ VRTX opened at $483.31 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The firm has a market cap of $124.11 billion, a PE ratio of -219.69, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm’s fifty day moving average is $441.95 and its two-hundred day moving average is $461.06.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is owned by company insiders.

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.