Mission Wealth Management LP Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mission Wealth Management LP boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,911 shares of the pharmaceutical company's stock after purchasing an additional 859 shares during the period. Mission Wealth Management LP's holdings in Vertex Pharmaceuticals were worth $3,350,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VRTX. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $31,000. Truvestments Capital LLC grew its position in 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 purchasing an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Midwest Capital Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $41,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on VRTX shares. JPMorgan Chase & Co. upped their price objective on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $515.04.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $450.91 on Tuesday. The firm has a 50-day simple moving average of $462.11 and a 200-day simple moving average of $459.98. The stock has a market capitalization of $115.79 billion, a price-to-earnings ratio of -204.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

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 analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Vertex Pharmaceuticals's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $4.76 earnings per share. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.