Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Lighthouse Financial LLC

Lighthouse Financial LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 52.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,910 shares of the pharmaceutical company’s stock after purchasing an additional 3,395 shares during the period. Vertex Pharmaceuticals accounts for 2.3% of Lighthouse Financial LLC’s portfolio, making the stock its 12th largest holding. Lighthouse Financial LLC’s holdings in Vertex Pharmaceuticals were worth $5,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC lifted its position in Vertex Pharmaceuticals by 3.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,911 shares of the pharmaceutical company’s stock valued at $999,000 after purchasing an additional 62 shares during the period. XXI Wealth LLC grew its position in shares of 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 buying an additional 30 shares during the period. MBL Wealth LLC grew its position in shares of 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 buying an additional 33 shares during the period. Strategic Planning Group LLC raised its stake in shares of Vertex Pharmaceuticals by 4.4% during the third quarter. Strategic Planning Group LLC now owns 19,483 shares of the pharmaceutical company’s stock worth $10,186,000 after buying an additional 817 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in shares of Vertex Pharmaceuticals by 16.4% during the third quarter. Brookstone Capital Management now owns 582 shares of the pharmaceutical company’s stock worth $304,000 after buying an additional 82 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VRTX shares. TD Cowen raised their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $560.00 target price (up from $515.00) on shares of Vertex Pharmaceuticals in a research report on Friday, September 11th. Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals and gave the company a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Barclays lifted their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $579.81.

Vertex Pharmaceuticals Stock Down 2.1%

VRTX opened at $523.93 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $403.16 and a 12 month high of $560.25. The company has a fifty day simple moving average of $523.52 and a 200 day simple moving average of $483.25. The stock has a market cap of $132.97 billion, a P/E ratio of 30.50, a P/E/G ratio of 2.57 and a beta of 0.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the firm posted $4.52 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.74 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

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.