Inscription Capital LLC Acquires Shares of 562 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Inscription Capital LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 562 shares of the pharmaceutical company's stock, valued at approximately $272,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America boosted their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a 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 assigned 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 $513.32.

Vertex Pharmaceuticals Trading Up 1.5%

Shares of VRTX opened at $448.40 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market capitalization of $115.15 billion, a P/E ratio of -114.39 and a beta of 0.41. The firm has a 50-day moving average price of $460.63 and a 200 day moving average price of $459.78. 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 (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.76 EPS. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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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