Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Heirloom Wealth Management

Heirloom Wealth Management increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,553 shares of the pharmaceutical company's stock after purchasing an additional 760 shares during the quarter. Vertex Pharmaceuticals accounts for 2.7% of Heirloom Wealth Management's investment portfolio, making the stock its 15th largest position. Heirloom Wealth Management's holdings in Vertex Pharmaceuticals were worth $9,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Truvestments Capital LLC lifted its holdings 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 valued at $40,000 after purchasing an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $40,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $44,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ VRTX traded down $2.10 during trading on Friday, reaching $441.30. 3,615,473 shares of the stock were exchanged, compared to its average volume of 1,418,238. The business's 50-day moving average price is $454.50 and its 200 day moving average price is $458.76. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. 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 company has a market capitalization of $113.33 billion, a price-to-earnings 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 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the firm posted $4.76 earnings per share. The company's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Leerink Partners reiterated a "market perform" rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Scotiabank lowered their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Fourteen equities 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.