CCM Investment Advisers LLC Has $13.36 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CCM Investment Advisers LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,553 shares of the pharmaceutical company's stock after purchasing an additional 5,351 shares during the quarter. CCM Investment Advisers LLC's holdings in Vertex Pharmaceuticals were worth $13,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $31,000. SJS Investment Consulting Inc. lifted its position in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares in the last quarter. Truvestments Capital LLC boosted its position in 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 buying an additional 23 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth $40,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $41,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 1.0%

VRTX stock traded down $4.61 during midday trading on Friday, hitting $455.45. The company's stock had a trading volume of 1,021,326 shares, compared to its average volume of 1,417,847. The company's fifty day moving average price is $462.54 and its 200 day moving average price is $460.16. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market capitalization of $116.96 billion, a P/E ratio of -207.02, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 2.02%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the company earned $4.76 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research analyst reports. Scotiabank cut their target price on 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. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $515.04.

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.