Montchanin Asset Management LLC Acquires 685 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Montchanin Asset Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,422 shares of the pharmaceutical company’s stock after buying an additional 685 shares during the quarter. Vertex Pharmaceuticals makes up 4.9% of Montchanin Asset Management LLC’s portfolio, making the stock its 7th largest position. Montchanin Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $5,312,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the third quarter valued at about $27,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $33,000. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VRTX shares. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Bank of America reduced their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Finally, Scotiabank raised their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals Stock Up 0.5 %

Shares of NASDAQ VRTX opened at $462.10 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a 50 day moving average price of $472.83 and a 200 day moving average price of $475.48. Vertex Pharmaceuticals Incorporated has a 52 week low of $348.46 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $3.67 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 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.