Golden State Wealth Management LLC Acquires Shares of 91 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, HoldingsChannel reports. The fund acquired 91 shares of the pharmaceutical company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after buying an additional 3,260 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $662,000. Concord Wealth Partners grew its holdings in shares of Vertex Pharmaceuticals by 32.6% during the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock worth $1,413,000 after purchasing an additional 862 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Vertex Pharmaceuticals by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock worth $137,783,000 after purchasing an additional 55,739 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 3.1 %

Shares of Vertex Pharmaceuticals stock opened at $455.22 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a 50 day moving average price of $435.95 and a two-hundred day moving average price of $462.13. The stock has a market capitalization of $117.23 billion, a PE ratio of -228.75, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. UBS Group increased their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citigroup started coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $505.29.

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.