Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,568 shares of the pharmaceutical company’s stock after acquiring an additional 1,941 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Vertex Pharmaceuticals were worth $8,139,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Community Financial Services Group LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in Vertex Pharmaceuticals during the second quarter worth about $26,000. MADDEN SECURITIES Corp bought a new position in Vertex Pharmaceuticals during the third quarter worth about $26,000. Elevation Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 28 shares during the period. Finally, Pingora Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter worth about $32,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Weiss Ratings lowered Vertex Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. The Goldman Sachs Group lifted their price objective on Vertex Pharmaceuticals from $654.00 to $725.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Royal Bank Of Canada boosted their price objective on Vertex Pharmaceuticals from $576.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, November 3rd. Wall Street Zen cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $596.44.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $542.62 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $522.75 and its 200 day simple moving average is $483.52. Vertex Pharmaceuticals Incorporated has a 1-year low of $412.27 and a 1-year high of $568.67. The company has a market cap of $137.58 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.90 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.06). Vertex Pharmaceuticals had a net margin of 30.70% and a return on equity of 21.98%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the business earned $4.80 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.10 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF). Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.