Carr Financial Group Corp Acquires New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Carr Financial Group Corp bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 608 shares of the pharmaceutical company's stock, valued at approximately $295,000.

Other hedge funds have also modified their holdings of the company. Abundance Wealth Counselors bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $313,000. ORG Partners LLC grew its holdings in Vertex Pharmaceuticals by 108.8% in the first quarter. ORG Partners LLC now owns 213 shares of the pharmaceutical company's stock worth $103,000 after purchasing an additional 111 shares during the last quarter. Trifecta Capital Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 4.1% during the first quarter. Trifecta Capital Advisors LLC now owns 14,538 shares of the pharmaceutical company's stock worth $7,048,000 after purchasing an additional 573 shares in the last quarter. Merrion Investment Management Co LLC lifted its holdings in shares of Vertex Pharmaceuticals by 24.4% during the 1st quarter. Merrion Investment Management Co LLC now owns 1,250 shares of the pharmaceutical company's stock valued at $606,000 after purchasing an additional 245 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Vertex Pharmaceuticals by 26.1% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,327 shares of the pharmaceutical company's stock valued at $654,000 after purchasing an additional 275 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research report on Tuesday. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Bank of America raised their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Fourteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $513.32.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $448.40 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.29 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. The business's 50 day moving average is $460.09 and its two-hundred day moving average is $459.66. The company has a market capitalization of $115.15 billion, a P/E ratio of -114.39 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $4.76 EPS. Analysts expect 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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