Golden State Wealth Management LLC Purchases 567 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Golden State Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 623.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 658 shares of the pharmaceutical company's stock after purchasing an additional 567 shares during the period. Golden State Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $319,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $31,000. Truvestments Capital LLC lifted its position in shares of Vertex Pharmaceuticals by 30.3% in the 4th 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 period. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Vertex Pharmaceuticals by 45.5% in 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 during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.5%

VRTX traded down $2.10 during trading on Friday, hitting $441.30. 3,615,473 shares of the company's stock were exchanged, compared to its average volume of 1,418,238. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $454.50 and its two-hundred day moving average is $458.76. 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 cap of $113.33 billion, a P/E ratio of -112.58 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the company earned $4.76 EPS. The business's revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. 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. JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating 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, Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Fourteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $511.62.

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.