Mystic Asset Management Inc. Takes $970,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mystic Asset Management Inc. acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the pharmaceutical company's stock, valued at approximately $970,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 46.6% during the fourth quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company's stock worth $394,000 after purchasing an additional 311 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $5,848,000. Evoke Wealth LLC grew its holdings in shares of Vertex Pharmaceuticals by 8.4% in the 4th quarter. Evoke Wealth LLC now owns 1,071 shares of the pharmaceutical company's stock valued at $431,000 after buying an additional 83 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $497,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $3.46 during midday trading on Friday, reaching $459.81. The stock had a trading volume of 975,143 shares, compared to its average volume of 1,420,625. The firm has a 50 day simple moving average of $449.49 and a 200-day simple moving average of $462.47. The firm has a market cap of $118.08 billion, a PE ratio of -117.30 and a beta of 0.41. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.85 billion. During the same period last year, the firm earned $4.76 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on VRTX shares. Bank of America lifted their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. 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. lifted their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Morgan Stanley reduced their price target on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $511.71.

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.