Brown Advisory Inc. Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Brown Advisory Inc. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,581 shares of the pharmaceutical company's stock after buying an additional 739 shares during the quarter. Brown Advisory Inc.'s holdings in Vertex Pharmaceuticals were worth $3,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at $44,000. Prestige Wealth Management Group LLC increased its position in Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after purchasing an additional 35 shares during the period. Finally, SJS Investment Consulting Inc. increased its position in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $468.85 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm's 50-day moving average is $447.71 and its 200 day moving average is $460.76. 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 cap of $120.40 billion, a price-to-earnings ratio of -119.60 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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 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 period last year, the firm posted $4.76 EPS. Vertex Pharmaceuticals's quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VRTX. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Bank of America boosted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Finally, Leerink Partners restated a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $511.62.

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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