Park Place Capital Corp Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Park Place Capital Corp grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365 shares of the pharmaceutical company’s stock after purchasing an additional 36 shares during the quarter. Park Place Capital Corp’s holdings in Vertex Pharmaceuticals were worth $147,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VRTX. Albion Financial Group UT increased its position in Vertex Pharmaceuticals by 3.2% during the fourth quarter. Albion Financial Group UT now owns 1,340 shares of the pharmaceutical company’s stock worth $540,000 after buying an additional 42 shares in the last quarter. Advisory Alpha LLC boosted its stake in shares of Vertex Pharmaceuticals by 10.0% during the fourth quarter. Advisory Alpha LLC now owns 1,292 shares of the pharmaceutical company’s stock valued at $520,000 after acquiring an additional 117 shares during the last quarter. MBM Wealth Consultants LLC increased its position in Vertex Pharmaceuticals by 4.9% during the 4th quarter. MBM Wealth Consultants LLC now owns 2,664 shares of the pharmaceutical company’s stock worth $1,081,000 after purchasing an additional 124 shares in the last quarter. Barlow Wealth Partners Inc. raised its stake in Vertex Pharmaceuticals by 4.5% in the 4th quarter. Barlow Wealth Partners Inc. now owns 49,710 shares of the pharmaceutical company’s stock valued at $21,090,000 after purchasing an additional 2,138 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 1.1% in the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after purchasing an additional 24 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $428.00 on Thursday. The firm’s 50 day moving average is $438.10 and its 200-day moving average is $465.39. 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 Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.67 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRTX. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Scotiabank raised their price objective on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a report on Monday, December 23rd. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Finally, Citigroup initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $490.38.

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.