Aries Wealth Management Buys New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Aries Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 605 shares of the pharmaceutical company's stock, valued at approximately $293,000.

Several other large investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its stake in Vertex Pharmaceuticals by 14.2% during the first quarter. Ritholtz Wealth Management now owns 3,459 shares of the pharmaceutical company's stock worth $1,677,000 after purchasing an additional 430 shares during the period. Massachusetts Wealth Management bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $289,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at $1,353,000. Everpar Advisors LLC raised its holdings in Vertex Pharmaceuticals by 12.1% during the 1st quarter. Everpar Advisors LLC now owns 748 shares of the pharmaceutical company's stock worth $363,000 after purchasing an additional 81 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $82,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Wolfe Research lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $515.04.

Vertex Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ:VRTX opened at $455.45 on Monday. The business's 50 day simple moving average is $462.54 and its 200 day simple moving average is $460.10. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The company has a market capitalization of $116.96 billion, a P/E ratio of -207.02, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results 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 4.86% and a negative return on equity of 2.02%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the company posted $4.76 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Vertex Pharmaceuticals Company 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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