Wrapmanager Inc. Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
Wrapmanager Inc. raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,225 shares of the pharmaceutical company’s stock after acquiring an additional 102 shares during the period. Wrapmanager Inc.’s holdings in Vertex Pharmaceuticals were worth $1,325,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $32,000. FTB Advisors Inc. grew its position in Vertex Pharmaceuticals by 1,618.2% during the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 178 shares during the last quarter. Pittenger & Anderson Inc. grew its position in Vertex Pharmaceuticals by 64.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 191 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 75 shares during the last quarter. Thor Advisors LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $37,000. Finally, Pearl River Capital LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $44,000. 94.70% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on VRTX shares. Goldman Sachs Group restated a “buy” rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. Credit Suisse Group lifted their price objective on Vertex Pharmaceuticals from $209.00 to $213.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Piper Jaffray Companies lifted their price objective on Vertex Pharmaceuticals from $217.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup reiterated a “buy” rating and issued a $205.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $206.63.
Shares of NASDAQ VRTX traded up $4.48 during mid-day trading on Tuesday, hitting $184.32. 32,485 shares of the stock traded hands, compared to its average volume of 1,395,006. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.63 and a current ratio of 3.74. Vertex Pharmaceuticals Incorporated has a 52 week low of $151.80 and a 52 week high of $195.81. The company has a market capitalization of $46.32 billion, a P/E ratio of 65.14, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40. The stock has a fifty day moving average of $176.87.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The company had revenue of $941.29 million for the quarter, compared to analyst estimates of $884.66 million. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.41 EPS for the current fiscal year.
Vertex Pharmaceuticals declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 31st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the pharmaceutical company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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