IFP Advisors Inc Acquires 909 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

IFP Advisors Inc grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756 shares of the pharmaceutical company’s stock after buying an additional 909 shares during the quarter. IFP Advisors Inc’s holdings in Vertex Pharmaceuticals were worth $1,114,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals during the third quarter worth about $27,000. Dunhill Financial LLC increased its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $33,000. Finally, Truvestments Capital LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at $35,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 1.0 %

Shares of VRTX stock opened at $474.50 on Friday. The stock has a 50 day simple moving average of $438.74 and a 200 day simple moving average of $460.99. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The stock has a market cap of $121.85 billion, a P/E ratio of -215.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VRTX. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. dropped their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective on the stock. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research report on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $506.70.

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.