Manning & Napier Advisors LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 56.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,108 shares of the pharmaceutical company's stock after acquiring an additional 84,982 shares during the quarter. Vertex Pharmaceuticals makes up about 1.4% of Manning & Napier Advisors LLC's holdings, making the stock its 22nd biggest holding. Manning & Napier Advisors LLC owned about 0.09% of Vertex Pharmaceuticals worth $113,985,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $31,000. Truvestments Capital LLC lifted its position in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Midwest Capital Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $41,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 90.96% of the company's stock.
Analyst Ratings Changes
VRTX has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Bank of America boosted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Finally, Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $513.14.
Check Out Our Latest Stock Report on Vertex Pharmaceuticals
Vertex Pharmaceuticals Stock Performance
VRTX traded up $2.67 during trading on Monday, hitting $443.54. The stock had a trading volume of 949,596 shares, compared to its average volume of 1,416,219. The firm has a market capitalization of $113.90 billion, a P/E ratio of -113.15 and a beta of 0.42. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company's 50-day moving average price is $459.22 and its 200 day moving average price is $459.51. 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 (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.76 earnings per share. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.
Vertex Pharmaceuticals Profile
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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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