Bourgeon Capital Management LLC Buys Shares of 1,356 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bourgeon Capital Management LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,356 shares of the pharmaceutical company’s stock, valued at approximately $546,000.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its position in Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after buying an additional 90,173 shares during the period. Jennison Associates LLC boosted its holdings in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP grew its stake in Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after purchasing an additional 159,693 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after buying an additional 100,114 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VRTX shares. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on shares of Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Finally, Bank of America dropped their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $490.38.

Vertex Pharmaceuticals Trading Up 1.4 %

Shares of VRTX opened at $427.89 on Wednesday. The stock’s 50-day moving average price is $439.34 and its 200-day moving average price is $465.72. 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 Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the business posted $3.67 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Vertex Pharmaceuticals 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.