Strategic Financial Concepts LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 20,136 shares of the pharmaceutical company's stock, valued at approximately $8,109,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Telos Capital Management Inc. lifted its holdings in Vertex Pharmaceuticals by 10.0% in the fourth quarter. Telos Capital Management Inc. now owns 17,627 shares of the pharmaceutical company's stock valued at $7,098,000 after acquiring an additional 1,605 shares during the period. McHugh Group LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $201,000. Bleakley Financial Group LLC raised its stake in Vertex Pharmaceuticals by 11.8% in the 4th quarter. Bleakley Financial Group LLC now owns 8,475 shares of the pharmaceutical company's stock valued at $3,413,000 after purchasing an additional 896 shares during the last quarter. Choreo LLC raised its stake in Vertex Pharmaceuticals by 2.6% in the 4th quarter. Choreo LLC now owns 6,092 shares of the pharmaceutical company's stock valued at $2,435,000 after purchasing an additional 154 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Vertex Pharmaceuticals by 16.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,549 shares of the pharmaceutical company's stock valued at $48,423,000 after purchasing an additional 17,264 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.
Shares of VRTX stock opened at $469.32 on Friday. The business's 50 day moving average is $435.87 and its two-hundred day moving average is $462.68. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a market capitalization of $120.86 billion, a P/E ratio of -235.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.
Several research firms recently commented on VRTX. Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a research note on Monday, December 16th. BMO Capital Markets dropped their target price on Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating for the company in a report on Friday, December 20th. UBS Group upped their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. HC Wainwright upped their target price on Vertex Pharmaceuticals from $535.00 to $550.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Truist Financial dropped their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating for the company in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $502.58.
Get Our Latest Research Report on VRTX
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.
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