Ferguson Wellman Capital Management Inc. Acquires Shares of 806 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 806 shares of the pharmaceutical company's stock, valued at approximately $391,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Truvestments Capital LLC increased its position in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $40,000. Midwest Capital Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $41,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of VRTX traded down $4.61 during midday trading on Friday, reaching $455.45. 1,021,326 shares of the stock were exchanged, compared to its average volume of 1,420,964. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company's 50 day moving average is $462.54 and its two-hundred day moving average is $460.13. The company has a market capitalization of $116.96 billion, a P/E ratio of -207.02, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Vertex Pharmaceuticals's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.76 EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VRTX. 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. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Bank of America increased 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. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group reissued 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, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $515.04.

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.