Elefante Mark B Buys 1,109 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Elefante Mark B increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,661 shares of the pharmaceutical company's stock after purchasing an additional 1,109 shares during the period. Vertex Pharmaceuticals makes up about 2.2% of Elefante Mark B's holdings, making the stock its 25th biggest position. Elefante Mark B's holdings in Vertex Pharmaceuticals were worth $2,745,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $31,000. SJS Investment Consulting Inc. raised its stake 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 valued at $46,000 after buying an additional 30 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $44,000. Finally, City State Bank increased its position in shares of Vertex Pharmaceuticals by 746.2% during the first quarter. City State Bank now owns 110 shares of the pharmaceutical company's stock valued at $53,000 after buying an additional 97 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded down $2.62 during trading on Friday, reaching $469.65. 1,176,853 shares of the stock traded hands, compared to its average volume of 1,076,910. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The business has a fifty day simple moving average of $453.13 and a two-hundred day simple moving average of $464.68. The company has a market capitalization of $120.61 billion, a price-to-earnings ratio of -119.81 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly 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). The firm 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 business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.76 EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on VRTX. Cantor Fitzgerald restated an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Bank of America raised their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Finally, Royal Bank Of Canada set a $420.00 target price on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $512.30.

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.