SK Wealth Management LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

SK Wealth Management LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,457 shares of the pharmaceutical company’s stock, valued at approximately $678,000.

Several other institutional investors have also bought and sold shares of VRTX. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. Dunhill Financial LLC grew its stake 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 acquiring an additional 24 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $8.63 during trading on Monday, reaching $400.13. 833,976 shares of the company traded hands, compared to its average volume of 1,242,225. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $462.47 and a 200-day simple moving average of $472.66. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The stock has a market capitalization of $103.05 billion, a PE ratio of -201.07 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm posted $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on VRTX shares. Truist Financial dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Royal Bank of Canada upped their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Bank of America cut their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, BMO Capital Markets decreased their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $494.04.

About Vertex Pharmaceuticals

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.