Kingsview Wealth Management LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 545 shares of the pharmaceutical company's stock, valued at approximately $264,000.
Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Vertex Pharmaceuticals by 46.6% during the fourth quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company's stock worth $394,000 after purchasing an additional 311 shares during the period. LPL Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 0.7% during the fourth quarter. LPL Financial LLC now owns 191,053 shares of the pharmaceutical company's stock worth $76,937,000 after purchasing an additional 1,340 shares during the period. TIAA Trust National Association raised its holdings in shares of Vertex Pharmaceuticals by 2.3% during the fourth quarter. TIAA Trust National Association now owns 5,763 shares of the pharmaceutical company's stock worth $2,321,000 after purchasing an additional 131 shares during the period. Finally, Prestige Wealth Management Group LLC raised its holdings 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 during the period. Institutional investors own 90.96% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on VRTX shares. Scotiabank dropped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley dropped their price objective on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a report on Friday, June 20th. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Finally, Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $512.30.
Read Our Latest Report on VRTX
Vertex Pharmaceuticals Stock Performance
Shares of Vertex Pharmaceuticals stock traded down $2.62 on Friday, reaching $469.65. The stock had a trading volume of 1,176,853 shares, compared to its average volume of 1,521,231. The business's 50-day moving average price is $452.51 and its two-hundred day moving average price is $464.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market cap of $120.61 billion, a P/E ratio of -119.81 and a beta of 0.41.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.
About Vertex Pharmaceuticals
(
Free Report)
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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