Goodman Advisory Group LLC Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Goodman Advisory Group LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 859 shares of the pharmaceutical company's stock, valued at approximately $416,000.

A number of other hedge funds have also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Truvestments Capital LLC grew its holdings in Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after buying an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $44,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Vertex Pharmaceuticals by 45.5% during the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $441.30 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $454.50 and a 200-day moving average price of $458.76. The firm has a market capitalization of $113.33 billion, a PE ratio of -112.58 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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). The business 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 firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.76 EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Leerink Partnrs lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Finally, Bank of America lifted their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $511.62.

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.

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