Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Vertex Pharmaceuticals by 20.0%, acquiring an additional 10,817 shares, bringing its total holdings to 64,774 shares worth approximately $31.4 million.
• Several hedge funds, including GAMMA Investing LLC, have significantly increased their positions in Vertex, with GAMMA's stake rising by over 60,000% in the first quarter.
• Analysts have mixed opinions on Vertex's stock, with Erste Group Bank downgrading it from "strong buy" to "hold," while other analysts maintain a "buy" rating, reflecting a consensus target price of $512.30.

Cetera Investment Advisers lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,774 shares of the pharmaceutical company's stock after acquiring an additional 10,817 shares during the quarter. Cetera Investment Advisers' holdings in Vertex Pharmaceuticals were worth $31,404,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $44,000. SJS Investment Consulting Inc. boosted its stake in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the period. Finally, Transce3nd LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $50,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $8.82 during trading hours on Monday, reaching $460.83. The stock had a trading volume of 2,107,238 shares, compared to its average volume of 1,525,387. The firm has a market cap of $118.34 billion, a price-to-earnings ratio of -117.56 and a beta of 0.41. 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 fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a 50-day moving average of $453.13 and a 200-day moving average of $465.42.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.76 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VRTX shares. Cantor Fitzgerald restated an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partners reaffirmed a "market perform" rating and set a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $512.30.

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.