Wingate Wealth Advisors Inc. Invests $43,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wingate Wealth Advisors Inc. acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 108 shares of the pharmaceutical company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Ritholtz Wealth Management increased its stake in shares of Vertex Pharmaceuticals by 7.7% in the third quarter. Ritholtz Wealth Management now owns 3,045 shares of the pharmaceutical company’s stock worth $1,416,000 after acquiring an additional 217 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Vertex Pharmaceuticals by 19.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,096 shares of the pharmaceutical company’s stock worth $510,000 after acquiring an additional 175 shares during the period. Procyon Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 1.1% in the third quarter. Procyon Advisors LLC now owns 15,010 shares of the pharmaceutical company’s stock worth $6,980,000 after acquiring an additional 157 shares during the period. Constitution Capital LLC boosted its holdings in Vertex Pharmaceuticals by 14.3% during the third quarter. Constitution Capital LLC now owns 1,200 shares of the pharmaceutical company’s stock worth $558,000 after buying an additional 150 shares in the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter worth $879,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on VRTX shares. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the stock from $500.00 to $550.00 in a report on Monday, December 9th. BMO Capital Markets lowered their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $430.00 to $433.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Truist Financial decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $502.58.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $469.97 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company’s 50-day moving average price is $435.87 and its 200-day moving average price is $462.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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 return on equity of 1.91% and a negative net margin of 4.52%. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current year.

Vertex Pharmaceuticals Company Profile

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.