Channel Wealth LLC Invests $716,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Channel Wealth LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,778 shares of the pharmaceutical company’s stock, valued at approximately $716,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. Dunhill Financial LLC raised its stake in shares of 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 acquiring an additional 24 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Finally, Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $35,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $426.00 to $430.00 and gave the company a “sector perform” rating in a research note on Monday, December 23rd. Barclays lowered their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada upped their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 5th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $490.38.

Vertex Pharmaceuticals Trading Down 1.7 %

Shares of Vertex Pharmaceuticals stock opened at $416.96 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 business has a 50 day simple moving average of $444.54 and a two-hundred day simple moving average of $466.83. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the firm posted $3.67 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 EPS 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.