KPP Advisory Services LLC Acquires New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

KPP Advisory Services LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 907 shares of the pharmaceutical company's stock, valued at approximately $440,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Truvestments Capital LLC lifted its stake in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after buying an additional 23 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $44,000. Finally, Prestige Wealth Management Group LLC raised its stake in 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. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $443.40 on Friday. The firm has a market cap of $113.87 billion, a P/E ratio of -113.11 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. The firm has a fifty day moving average of $455.45 and a two-hundred day moving average of $459.02.

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 for the quarter, missing the consensus estimate 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned $4.76 earnings per share. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. As a group, research analysts anticipate 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 analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wall Street Zen raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Scotiabank cut their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $513.14.

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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