Joseph Group Capital Management Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,126 shares of the pharmaceutical company's stock after purchasing an additional 704 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.3% of Joseph Group Capital Management's investment portfolio, making the stock its 26th biggest position. Joseph Group Capital Management's holdings in Vertex Pharmaceuticals were worth $3,455,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VRTX. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $31,000. Truvestments Capital LLC grew its position 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 acquiring an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $44,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Vertex Pharmaceuticals by 45.5% during the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after purchasing an additional 35 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRTX has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Leerink Partners reaffirmed a "market perform" rating and set a $503.00 price objective (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report 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 target price on Vertex Pharmaceuticals and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Finally, Wolfe Research downgraded Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $511.62.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $10.68 during trading on Friday, hitting $468.85. 892,738 shares of the stock were exchanged, compared to its average volume of 1,426,652. 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 1-year low of $377.85 and a 1-year high of $519.88. The stock has a fifty day moving average price of $447.71 and a two-hundred day moving average price of $460.76. The firm has a market capitalization of $120.40 billion, a P/E ratio of -119.60 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates 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 business 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 firm earned $4.76 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.