Park Avenue Securities LLC Has $7.44 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Park Avenue Securities LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,339 shares of the pharmaceutical company's stock after acquiring an additional 885 shares during the quarter. Park Avenue Securities LLC's holdings in Vertex Pharmaceuticals were worth $7,437,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in VRTX. ABC Arbitrage SA bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $1,510,000. Highview Capital Management LLC DE raised its stake in shares of Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock valued at $2,324,000 after acquiring an additional 102 shares in the last quarter. Davidson Investment Advisors lifted its holdings in Vertex Pharmaceuticals by 26.0% in the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock worth $24,630,000 after purchasing an additional 12,631 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Vertex Pharmaceuticals by 75.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after purchasing an additional 1,062 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Vertex Pharmaceuticals by 0.8% during the fourth quarter. New York State Common Retirement Fund now owns 362,334 shares of the pharmaceutical company's stock valued at $145,912,000 after purchasing an additional 2,855 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded down $4.35 during trading on Monday, reaching $446.15. 912,384 shares of the company traded hands, compared to its average volume of 1,417,005. The stock's 50 day moving average price is $465.01 and its two-hundred day moving average price is $460.40. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a market cap of $114.57 billion, a price-to-earnings ratio of -202.80, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

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 the consensus estimate of $4.29 by ($0.23). The firm 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%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.76 EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VRTX. 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. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Barclays lifted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $515.04.

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.