BridgePort Financial Solutions LLC Buys New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

BridgePort Financial Solutions LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 794 shares of the pharmaceutical company's stock, valued at approximately $320,000.

Other large investors have also modified their holdings of the company. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $37,000. Truvestments Capital LLC raised its holdings in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $41,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $1.99 during trading hours on Thursday, hitting $447.09. The company's stock had a trading volume of 882,371 shares, compared to its average volume of 1,418,078. The company has a 50 day moving average of $470.99 and a 200 day moving average of $461.47. The stock has a market cap of $114.81 billion, a PE ratio of -203.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $4.76 earnings per share. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VRTX shares. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 6th. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective for the company. in a research note on Thursday, January 30th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $515.04.

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.