Miracle Mile Advisors LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Miracle Mile Advisors LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,568 shares of the pharmaceutical company's stock after purchasing an additional 785 shares during the period. Miracle Mile Advisors LLC's holdings in Vertex Pharmaceuticals were worth $3,184,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $37,000. 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 valued at $40,000 after buying an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $40,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VRTX shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Scotiabank decreased their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Barclays upped their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $515.04.

Vertex Pharmaceuticals Stock Up 1.5%

Shares of NASDAQ:VRTX opened at $450.50 on Monday. The business has a 50-day moving average price of $465.01 and a 200 day moving average price of $460.40. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $115.69 billion, a price-to-earnings ratio of -204.77, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.76 earnings per share. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.

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