Wilmington Savings Fund Society FSB Purchases Shares of 4,702 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wilmington Savings Fund Society FSB acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,702 shares of the pharmaceutical company’s stock, valued at approximately $2,187,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $25,000. Dunhill Financial LLC increased its stake in shares of 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. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the third quarter valued at $33,000. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRTX shares. JPMorgan Chase & Co. dropped 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. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. Finally, Scotiabank increased their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $506.20.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $463.73 on Friday. The company has a market cap of $119.42 billion, a P/E ratio of -233.03 and a beta of 0.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a 1 year low of $391.01 and a 1 year high of $519.88. The stock’s fifty day moving average price is $473.50 and its 200-day moving average price is $475.84.

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 business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 EPS. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current 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.