Atria Investments Inc Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atria Investments Inc raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 23,282 shares of the pharmaceutical company's stock after buying an additional 4,684 shares during the period. Atria Investments Inc's holdings in Vertex Pharmaceuticals were worth $11,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in VRTX. Quent Capital LLC raised its holdings in Vertex Pharmaceuticals by 4.5% in the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after purchasing an additional 22 shares during the period. Advisor OS LLC raised its holdings in Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after acquiring an additional 23 shares in the last quarter. Sculati Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after buying an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the period. Finally, Strategic Blueprint LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VRTX shares. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Leerink Partners reissued a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Wolfe Research lowered Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $512.30.

Vertex Pharmaceuticals Stock Down 0.6%

Vertex Pharmaceuticals stock traded down $2.62 during midday trading on Friday, hitting $469.65. 1,176,853 shares of the stock were exchanged, compared to its average volume of 1,076,910. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $120.61 billion, a price-to-earnings ratio of -119.81 and a beta of 0.41. The business's 50-day moving average price is $453.13 and its 200-day moving average price is $464.68. 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 earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the business earned $4.76 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.