IFC Advisors LLC Invests $269,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

IFC Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 555 shares of the pharmaceutical company's stock, valued at approximately $269,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $31,000. SJS Investment Consulting Inc. grew its stake in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares in the last quarter. Truvestments Capital LLC grew its stake in Vertex Pharmaceuticals by 30.3% in 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 purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $44,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 2.2%

NASDAQ VRTX opened at $468.85 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a market capitalization of $120.40 billion, a PE ratio of -119.60 and a beta of 0.41. The stock's 50 day moving average is $447.71 and its 200 day moving average is $460.40.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 return on equity of 3.36% and a negative net margin of 8.91%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Finally, Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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