Axecap Investments LLC Invests $1.48 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Axecap Investments LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,676 shares of the pharmaceutical company’s stock, valued at approximately $1,480,000.

Several other institutional investors also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth approximately $27,000. Dunhill Financial LLC increased its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of several research reports. Bank of America cut their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Truist Financial dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, UBS Group upped their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $502.58.

Vertex Pharmaceuticals Trading Up 0.1 %

NASDAQ VRTX opened at $469.97 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a fifty day simple moving average of $435.87 and a two-hundred day simple moving average of $462.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current year.

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.