Menard Financial Group LLC Buys New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Menard Financial Group LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, Holdings Channel reports. The fund purchased 1,443 shares of the pharmaceutical company’s stock, valued at approximately $671,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Motley Fool Asset Management LLC raised its position in shares of Vertex Pharmaceuticals by 5.6% in the 3rd quarter. Motley Fool Asset Management LLC now owns 11,644 shares of the pharmaceutical company’s stock worth $5,470,000 after acquiring an additional 613 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 22.6% during the 3rd quarter. IHT Wealth Management LLC now owns 2,531 shares of the pharmaceutical company’s stock valued at $1,180,000 after buying an additional 467 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in Vertex Pharmaceuticals by 6.8% in the 3rd quarter. Ingalls & Snyder LLC now owns 990 shares of the pharmaceutical company’s stock worth $460,000 after acquiring an additional 63 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Vertex Pharmaceuticals by 53.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,109 shares of the pharmaceutical company’s stock valued at $2,376,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in Vertex Pharmaceuticals by 12.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 23,585 shares of the pharmaceutical company’s stock worth $10,969,000 after buying an additional 2,600 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Oppenheimer decreased their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Bank of America reduced their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective for the company. Finally, Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have issued 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, the company has an average rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals Stock Down 1.9 %

NASDAQ:VRTX opened at $456.97 on Wednesday. The stock has a fifty day simple moving average of $472.87 and a 200-day simple moving average of $475.32. 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 market cap of $117.68 billion, a price-to-earnings ratio of -229.63 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a twelve month low of $347.51 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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 net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm earned $3.67 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS 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.