Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Lighthouse Financial LLC

Lighthouse Financial LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 52.1% in the third quarter, Holdings Channel.com reports. The firm owned 9,910 shares of the pharmaceutical company’s stock after acquiring an additional 3,395 shares during the period. Vertex Pharmaceuticals makes up about 2.3% of Lighthouse Financial LLC’s investment portfolio, making the stock its 12th largest position. Lighthouse Financial LLC’s holdings in Vertex Pharmaceuticals were worth $5,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its position in Vertex Pharmaceuticals by 3.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,911 shares of the pharmaceutical company’s stock valued at $999,000 after buying an additional 62 shares during the last quarter. XXI Wealth LLC boosted its position in Vertex Pharmaceuticals by 6.4% during the 3rd quarter. XXI Wealth LLC now owns 502 shares of the pharmaceutical company’s stock worth $262,000 after acquiring an additional 30 shares during the last quarter. MBL Wealth LLC boosted its position in Vertex Pharmaceuticals by 5.4% during the 3rd quarter. MBL Wealth LLC now owns 645 shares of the pharmaceutical company’s stock worth $337,000 after acquiring an additional 33 shares during the last quarter. Strategic Planning Group LLC grew its stake in shares of Vertex Pharmaceuticals by 4.4% during the 3rd quarter. Strategic Planning Group LLC now owns 19,483 shares of the pharmaceutical company’s stock worth $10,186,000 after acquiring an additional 817 shares in the last quarter. Finally, Brookstone Capital Management grew its stake in shares of Vertex Pharmaceuticals by 16.4% during the 3rd quarter. Brookstone Capital Management now owns 582 shares of the pharmaceutical company’s stock worth $304,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on VRTX. Canaccord Genuity Group lifted their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. restated an “overweight” rating and set a $560.00 target price (up from $515.00) on shares of Vertex Pharmaceuticals in a report on Friday, September 11th. Barclays raised their target price on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn lifted their price target on shares of Vertex Pharmaceuticals from $570.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 1st. They set an “overweight” rating and a $665.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $579.81.

Vertex Pharmaceuticals Stock Down 2.1%

NASDAQ:VRTX opened at $523.93 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $403.16 and a twelve month high of $560.25. The firm has a market capitalization of $132.97 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 2.57 and a beta of 0.28. The stock’s 50 day moving average price is $523.52 and its two-hundred day moving average price is $483.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.52 earnings per share. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.74 earnings per share for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.