Tidal Investments LLC Has $5.43 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tidal Investments LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,681 shares of the pharmaceutical company’s stock after selling 303 shares during the period. Tidal Investments LLC’s holdings in Vertex Pharmaceuticals were worth $5,433,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Groesbeck Investment Management Corp NJ boosted its position in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after buying an additional 21 shares during the period. Mutual Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares in the last quarter. Finally, Daymark Wealth Partners LLC boosted its holdings in Vertex Pharmaceuticals by 2.8% during the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VRTX shares. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Bank of America dropped their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Scotiabank raised their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.20.

Vertex Pharmaceuticals Trading Down 0.1 %

VRTX stock opened at $463.73 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $391.01 and a 52 week high of $519.88. The company has a market capitalization of $119.42 billion, a PE ratio of -233.03 and a beta of 0.36. The company’s 50-day simple moving average is $473.50 and its 200 day simple moving average is $475.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm earned $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 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.