Moors & Cabot Inc. Purchases 1,894 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Moors & Cabot Inc. increased its stake in Vertex Pharmaceuticals by 52.6%, acquiring 1,894 additional shares, bringing its total holdings to 5,497 shares valued at approximately $2.67 million.
• Institutional investors collectively own 90.96% of Vertex Pharmaceuticals' stock, with several major firms significantly increasing their positions in recent quarters.
• Analysts have mixed views on Vertex, with a consensus rating of "Moderate Buy" and an average target price of $512.30. Current share prices are around $462.13.

Moors & Cabot Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 52.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,497 shares of the pharmaceutical company's stock after acquiring an additional 1,894 shares during the period. Moors & Cabot Inc.'s holdings in Vertex Pharmaceuticals were worth $2,665,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of VRTX. Capital World Investors increased its position in shares of Vertex Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after acquiring an additional 1,514,993 shares during the last quarter. Capital Research Global Investors grew its stake in Vertex Pharmaceuticals by 15.8% in the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after purchasing an additional 1,426,746 shares in the last quarter. Jennison Associates LLC increased its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the last quarter. Edgewood Management LLC increased its holdings in Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after buying an additional 1,410,238 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Vertex Pharmaceuticals by 12.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,833,889 shares of the pharmaceutical company's stock worth $1,141,277,000 after purchasing an additional 317,058 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VRTX shares. Royal Bank Of Canada set a $420.00 target price on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. upped their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Wolfe Research lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $512.30.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $462.13 on Friday. The stock has a market capitalization of $118.67 billion, a PE ratio of -117.89 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The business has a fifty day moving average price of $455.62 and a two-hundred day moving average price of $466.46.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the business earned $4.76 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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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