Dakota Wealth Management Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Dakota Wealth Management lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 37.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,147 shares of the pharmaceutical company's stock after purchasing an additional 2,739 shares during the quarter. Dakota Wealth Management's holdings in Vertex Pharmaceuticals were worth $4,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Prestige Wealth Management Group LLC increased its position in Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after purchasing an additional 35 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in Vertex Pharmaceuticals by 46.2% during 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 in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Down 0.8%

NASDAQ:VRTX traded down $3.70 during mid-day trading on Friday, reaching $459.57. The company's stock had a trading volume of 596,621 shares, compared to its average volume of 1,419,397. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a fifty day moving average of $448.80 and a 200-day moving average of $462.07. The firm has a market capitalization of $118.02 billion, a PE ratio of -117.16 and a beta of 0.41. 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 (NASDAQ:VRTX - Get Free Report) last released 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 business had revenue of $2.77 billion during the quarter, compared to analysts' expectations 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 last year, the company earned $4.76 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent research reports. Bank of America upped 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. Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $511.71.

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.