Asset Allocation & Management Company LLC Invests $228,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Asset Allocation & Management Company LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 567 shares of the pharmaceutical company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mutual Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the period. Daymark Wealth Partners LLC raised its position in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after buying an additional 22 shares in the last quarter. Grove Bank & Trust raised its position in shares of Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after buying an additional 24 shares in the last quarter. Finally, Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 24 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $2.41 during trading hours on Monday, reaching $407.15. 587,602 shares of the company were exchanged, compared to its average volume of 1,367,513. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The business’s 50 day simple moving average is $448.88 and its 200-day simple moving average is $467.95. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $104.85 billion, a P/E ratio of -204.60 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.67 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VRTX shares. HC Wainwright lowered their price objective on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada upped their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Finally, Citigroup started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $490.38.

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.