Hemenway Trust Co LLC Increases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hemenway Trust Co LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,324 shares of the pharmaceutical company's stock after buying an additional 4,911 shares during the quarter. Vertex Pharmaceuticals comprises about 2.1% of Hemenway Trust Co LLC's holdings, making the stock its 23rd largest position. Hemenway Trust Co LLC's holdings in Vertex Pharmaceuticals were worth $26,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $31,000. Truvestments Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Midwest Capital Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $41,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 2.0%

VRTX opened at $441.99 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 stock has a market capitalization of $113.50 billion, a PE ratio of -112.75 and a beta of 0.41. The firm's fifty day moving average price is $461.30 and its 200 day moving average price is $459.86.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $4.76 earnings per share. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent research reports. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Leerink Partnrs lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Leerink Partners reiterated a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Fourteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $513.32.

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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