Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $891,000 Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Empirical Financial Services LLC increased its holdings in Vertex Pharmaceuticals by 165.8%, acquiring a total of 1,837 shares valued at $891,000 as of the end of the most recent quarter.
• Several institutional investors have also adjusted their stakes in Vertex Pharmaceuticals, with total institutional ownership standing at 90.96% of the company's stock.
• Vertex Pharmaceuticals recently reported quarterly earnings of $4.06 per share, which missed analyst estimates of $4.29, alongside revenue of $2.77 billion against expectations of $2.85 billion.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 165.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,837 shares of the pharmaceutical company's stock after buying an additional 1,146 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Vertex Pharmaceuticals were worth $891,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in VRTX. Quent Capital LLC raised its stake in Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after purchasing an additional 22 shares during the last quarter. Advisor OS LLC raised its stake in shares of Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after purchasing an additional 23 shares in the last quarter. Sculati Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after buying an additional 25 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after buying an additional 25 shares in the last quarter. Finally, Strategic Blueprint LLC increased its holdings in Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after buying an additional 25 shares during the period. Institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on VRTX shares. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Scotiabank decreased their price target on 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. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $512.30.

Vertex Pharmaceuticals Trading Up 1.2%

NASDAQ:VRTX opened at $462.13 on Friday. 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's 50-day simple moving average is $455.62 and its 200-day simple moving average is $466.46. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $118.67 billion, a PE ratio of -117.89 and a beta of 0.44.

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 company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $4.76 EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.

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