Illinois Municipal Retirement Fund Acquires 3,202 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Illinois Municipal Retirement Fund grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,590 shares of the pharmaceutical company's stock after buying an additional 3,202 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Vertex Pharmaceuticals were worth $24,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Vertex Pharmaceuticals in the 4th quarter worth $1,374,948,000. GAMMA Investing LLC raised its holdings in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after purchasing an additional 2,421,073 shares during the period. Parnassus Investments LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth $731,283,000. Capital World Investors raised its holdings in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Finally, Capital Research Global Investors raised its holdings in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $443.40 on Friday. The business's fifty day simple moving average is $455.45 and its 200-day simple moving average is $459.02. The company has a market cap of $113.87 billion, a PE ratio of -113.11 and a beta of 0.41. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

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). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company earned $4.76 earnings per share. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals 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. Royal Bank Of Canada set a $420.00 price target on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. HC Wainwright restated a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday. Finally, William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $513.14.

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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