Burney Co. Purchases 1,038 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Burney Co. raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,805 shares of the pharmaceutical company's stock after acquiring an additional 1,038 shares during the quarter. Burney Co.'s holdings in Vertex Pharmaceuticals were worth $18,813,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $31,000. SJS Investment Consulting Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, City State Bank boosted its holdings in shares of Vertex Pharmaceuticals by 746.2% in the 1st quarter. City State Bank now owns 110 shares of the pharmaceutical company's stock valued at $53,000 after buying an additional 97 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Leerink Partners reissued a "market perform" rating and issued a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Bank of America raised their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $512.30.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $2.62 during mid-day trading on Friday, reaching $469.65. The company had a trading volume of 1,176,847 shares, compared to its average volume of 1,521,209. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a market cap of $120.61 billion, a price-to-earnings ratio of -119.81 and a beta of 0.41. The business's 50-day simple moving average is $452.51 and its 200 day simple moving average is $464.26.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.76 EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.