Nabity Jensen Investment Management Inc Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nabity Jensen Investment Management Inc purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,348 shares of the pharmaceutical company’s stock, valued at approximately $627,000.

Several other hedge funds have also recently made changes to their positions in the stock. LRI Investments LLC raised its stake in Vertex Pharmaceuticals by 17.3% during the 3rd quarter. LRI Investments LLC now owns 835 shares of the pharmaceutical company’s stock valued at $404,000 after buying an additional 123 shares during the last quarter. Peloton Wealth Strategists increased its position in Vertex Pharmaceuticals by 278.3% during the third quarter. Peloton Wealth Strategists now owns 2,175 shares of the pharmaceutical company’s stock valued at $1,012,000 after acquiring an additional 1,600 shares during the last quarter. SGL Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the third quarter valued at about $639,000. EWA LLC boosted its position in Vertex Pharmaceuticals by 12.4% in the third quarter. EWA LLC now owns 561 shares of the pharmaceutical company’s stock worth $272,000 after purchasing an additional 62 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in shares of Vertex Pharmaceuticals by 12.2% during the 3rd quarter. Groupama Asset Managment now owns 34,330 shares of the pharmaceutical company’s stock valued at $15,966,000 after purchasing an additional 3,739 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. UBS Group upped their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Bank of America lowered their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Royal Bank of Canada upped their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $506.20.

Vertex Pharmaceuticals Stock Up 0.5 %

Shares of NASDAQ:VRTX opened at $462.10 on Monday. The company has a market cap of $119.00 billion, a price-to-earnings ratio of -232.21 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12 month low of $348.46 and a 12 month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $472.83 and a 200 day moving average price of $475.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the business earned $3.67 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts predict 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.