Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Notis McConarty Edward

Notis McConarty Edward grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,275 shares of the pharmaceutical company's stock after purchasing an additional 756 shares during the period. Vertex Pharmaceuticals comprises about 1.8% of Notis McConarty Edward's holdings, making the stock its 23rd biggest holding. Notis McConarty Edward's holdings in Vertex Pharmaceuticals were worth $3,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of VRTX. Aries Wealth Management acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at approximately $293,000. Polar Asset Management Partners Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $22,954,000. GAMMA Investing LLC lifted its position in shares of Vertex Pharmaceuticals by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock worth $2,425,000 after acquiring an additional 1,005 shares during the period. Brighton Jones LLC lifted its position in shares of Vertex Pharmaceuticals by 45.0% in the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock worth $3,113,000 after acquiring an additional 1,994 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of Vertex Pharmaceuticals by 189.7% in the 4th quarter. APG Asset Management N.V. now owns 359,285 shares of the pharmaceutical company's stock worth $139,724,000 after acquiring an additional 235,265 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded down $2.62 during midday trading on Friday, hitting $469.65. The company's stock had a trading volume of 1,173,839 shares, compared to its average volume of 1,521,200. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The business's 50 day simple moving average is $452.51 and its 200 day simple moving average is $464.26. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a market cap of $120.61 billion, a P/E ratio of -119.81 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $4.76 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research analyst reports. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Leerink Partners reiterated a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $512.30.

Vertex Pharmaceuticals Company 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.