Jefferies Financial Group Inc. Increases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Jefferies Financial Group Inc. increased its position in Vertex Pharmaceuticals by 39.3%, owning 19,484 shares valued at approximately $9.4 million after acquiring an additional 5,500 shares in the 1st quarter.
• Vertex Pharmaceuticals reported a negative net margin of 8.91% and a revenue of $2.77 billion for the quarter, below analysts' consensus estimate of $2.85 billion.
• Analysts have varying ratings on Vertex, with a consensus rating of "Moderate Buy" and a price target averaging around $512.30.

Jefferies Financial Group Inc. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 39.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,484 shares of the pharmaceutical company's stock after buying an additional 5,500 shares during the period. Jefferies Financial Group Inc.'s holdings in Vertex Pharmaceuticals were worth $9,446,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Alberta Investment Management Corp acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $6,150,000. Howland Capital Management LLC grew its position in shares of Vertex Pharmaceuticals by 14.5% in the 1st quarter. Howland Capital Management LLC now owns 1,975 shares of the pharmaceutical company's stock valued at $958,000 after buying an additional 250 shares during the last quarter. US Bancorp DE grew its position in Vertex Pharmaceuticals by 6.3% during the 1st quarter. US Bancorp DE now owns 32,259 shares of the pharmaceutical company's stock worth $15,640,000 after purchasing an additional 1,916 shares during the last quarter. Nicolet Advisory Services LLC grew its position in Vertex Pharmaceuticals by 33.3% during the 1st quarter. Nicolet Advisory Services LLC now owns 937 shares of the pharmaceutical company's stock worth $446,000 after purchasing an additional 234 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Vertex Pharmaceuticals by 165.8% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,837 shares of the pharmaceutical company's stock valued at $891,000 after acquiring an additional 1,146 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $456.87 on Friday. The company's 50 day simple moving average is $455.09 and its 200 day simple moving average is $466.12. The stock has a market capitalization of $117.32 billion, a price-to-earnings ratio of -116.55 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 business's revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $4.76 earnings per share. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRTX shares. Leerink Partners reiterated a "market perform" rating and issued a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Morgan Stanley lowered their target price 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. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Finally, Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $512.30.

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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