Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 77.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,275 shares of the pharmaceutical company's stock after buying an additional 4,476 shares during the quarter. Crestwood Advisors Group LLC's holdings in Vertex Pharmaceuticals were worth $4,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. Prestige Wealth Management Group LLC boosted its position in shares of Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after acquiring an additional 35 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Bank of America lifted their price target 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, JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $512.30.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $3.73 during trading on Thursday, hitting $473.22. 393,644 shares of the company's stock traded hands, compared to its average volume of 1,519,807. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a fifty day moving average price of $451.75 and a two-hundred day moving average price of $463.78. The stock has a market capitalization of $121.52 billion, a price-to-earnings ratio of -120.77 and a beta of 0.41.

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

Vertex Pharmaceuticals 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.