WCM Investment Management LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

WCM Investment Management LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,091,522 shares of the pharmaceutical company’s stock, valued at approximately $435,899,000.

A number of other large investors also recently made changes to their positions in the business. Advisory Resource Group increased its holdings in shares of Vertex Pharmaceuticals by 24.9% in the 4th quarter. Advisory Resource Group now owns 2,461 shares of the pharmaceutical company’s stock valued at $991,000 after purchasing an additional 491 shares during the period. Arlington Financial Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 7.0% in the 4th quarter. Arlington Financial Advisors LLC now owns 535 shares of the pharmaceutical company’s stock valued at $215,000 after purchasing an additional 35 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 48.5% in the 4th quarter. Apollon Wealth Management LLC now owns 12,172 shares of the pharmaceutical company’s stock valued at $4,901,000 after purchasing an additional 3,976 shares during the period. MWA Asset Management increased its holdings in Vertex Pharmaceuticals by 23.3% in the fourth quarter. MWA Asset Management now owns 3,186 shares of the pharmaceutical company’s stock worth $1,283,000 after buying an additional 603 shares during the last quarter. Finally, Triasima Portfolio Management inc. increased its holdings in Vertex Pharmaceuticals by 1.1% in the fourth quarter. Triasima Portfolio Management inc. now owns 11,660 shares of the pharmaceutical company’s stock worth $4,695,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on VRTX shares. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Piper Sandler dropped their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. BMO Capital Markets lowered their price target on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, Barclays lowered their price target on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $502.58.

Vertex Pharmaceuticals Stock Down 2.5 %

Shares of NASDAQ VRTX opened at $469.32 on Friday. The stock has a market cap of $120.86 billion, a PE ratio of -235.84, a PEG ratio of 1.80 and a beta of 0.41. The business has a fifty day moving average of $435.87 and a two-hundred day moving average of $462.68. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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.