Abundance Wealth Counselors Takes $313,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Abundance Wealth Counselors bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 646 shares of the pharmaceutical company's stock, valued at approximately $313,000.

Several other hedge funds have also recently made changes to their positions in the business. ORG Partners LLC raised its position in shares of Vertex Pharmaceuticals by 108.8% during the 1st quarter. ORG Partners LLC now owns 213 shares of the pharmaceutical company's stock valued at $103,000 after buying an additional 111 shares in the last quarter. Trifecta Capital Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 4.1% during the 1st quarter. Trifecta Capital Advisors LLC now owns 14,538 shares of the pharmaceutical company's stock valued at $7,048,000 after buying an additional 573 shares in the last quarter. Merrion Investment Management Co LLC grew its holdings in Vertex Pharmaceuticals by 24.4% during the 1st quarter. Merrion Investment Management Co LLC now owns 1,250 shares of the pharmaceutical company's stock valued at $606,000 after purchasing an additional 245 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Vertex Pharmaceuticals by 26.1% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,327 shares of the pharmaceutical company's stock valued at $654,000 after purchasing an additional 275 shares during the last quarter. Finally, Compass Capital Corp MA ADV bought a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $231,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $448.40 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The firm's 50 day moving average price is $460.09 and its 200-day moving average price is $459.66. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a market cap of $115.15 billion, a PE ratio of -114.39 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business posted $4.76 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several analyst reports. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $513.32.

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.

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