Jefferies Financial Group Inc. Sells 8,065 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Jefferies Financial Group Inc. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,089 shares of the pharmaceutical company’s stock after selling 8,065 shares during the period. Jefferies Financial Group Inc.’s holdings in Vertex Pharmaceuticals were worth $7,889,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MADDEN SECURITIES Corp purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $26,000. Community Financial Services Group LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $26,000. Elevation Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 28 shares during the period. Finally, Pingora Partners LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $32,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $547.03 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $412.27 and a 52-week high of $568.67. The firm has a fifty day moving average of $523.04 and a 200-day moving average of $483.19. The firm has a market capitalization of $138.69 billion, a P/E ratio of 35.20, a PEG ratio of 2.90 and a beta of 0.28. The company has a quick ratio of 1.89, a current ratio of 2.34 and a debt-to-equity ratio of 0.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.06). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.42 billion. Vertex Pharmaceuticals had a net margin of 30.70% and a return on equity of 21.98%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.80 EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 16.10 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Cowen increased their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Jefferies Financial Group lifted their price target on Vertex Pharmaceuticals from $633.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Daiwa Securities Group upped their price objective on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Stifel Nicolaus increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $563.00 and gave the stock a “hold” rating in a report on Tuesday, November 3rd. Finally, Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $596.44.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF). Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.