Advisors Preferred LLC Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Advisors Preferred LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,200 shares of the pharmaceutical company's stock, valued at approximately $1,066,000.

Other large investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. increased its holdings in shares of Vertex Pharmaceuticals by 4.1% during the first quarter. Richardson Financial Services Inc. now owns 1,014 shares of the pharmaceutical company's stock worth $492,000 after purchasing an additional 40 shares during the period. Kidder Stephen W increased its holdings in shares of Vertex Pharmaceuticals by 16.8% during the first quarter. Kidder Stephen W now owns 11,966 shares of the pharmaceutical company's stock worth $5,801,000 after purchasing an additional 1,718 shares during the period. Somerville Kurt F increased its holdings in shares of Vertex Pharmaceuticals by 12.2% during the first quarter. Somerville Kurt F now owns 22,876 shares of the pharmaceutical company's stock worth $11,091,000 after purchasing an additional 2,484 shares during the period. Loudon Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $235,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of Vertex Pharmaceuticals by 112.6% during the first quarter. Proficio Capital Partners LLC now owns 2,079 shares of the pharmaceutical company's stock worth $1,008,000 after purchasing an additional 1,101 shares during the period. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VRTX shares. 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. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $512.30.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $2.62 during mid-day trading on Friday, reaching $469.65. 1,172,607 shares of the company's stock were exchanged, compared to its average volume of 1,518,851. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The stock has a market capitalization of $120.61 billion, a PE ratio of -119.81 and a beta of 0.41. The business's fifty day simple moving average is $452.51 and its 200-day simple moving average is $464.26. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share 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 firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the business earned $4.76 earnings per share. The business's quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

About Vertex Pharmaceuticals

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.