Philip James Wealth Mangement LLC Purchases New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Philip James Wealth Mangement LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,991 shares of the pharmaceutical company's stock, valued at approximately $1,450,000.

A number of other hedge funds have also bought and sold shares of VRTX. Bartlett & CO. Wealth Management LLC grew its holdings in Vertex Pharmaceuticals by 64.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 587 shares of the pharmaceutical company's stock valued at $285,000 after purchasing an additional 230 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Vertex Pharmaceuticals by 6.8% during the first quarter. Illinois Municipal Retirement Fund now owns 50,590 shares of the pharmaceutical company's stock valued at $24,527,000 after buying an additional 3,202 shares during the period. Diversified Trust Co grew its stake in shares of Vertex Pharmaceuticals by 17.7% during the first quarter. Diversified Trust Co now owns 632 shares of the pharmaceutical company's stock valued at $306,000 after buying an additional 95 shares during the last quarter. Beacon Financial Advisory LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth approximately $258,000. Finally, Perpetual Ltd purchased a new position in Vertex Pharmaceuticals during the 1st quarter valued at $302,000. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VRTX shares. Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Morgan Stanley lowered their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Cantor Fitzgerald restated an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Fourteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $513.14.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $443.40 on Friday. The firm's fifty day moving average is $455.45 and its two-hundred day moving average is $459.02. The firm has a market cap of $113.87 billion, a price-to-earnings ratio of -113.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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). The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.76 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.

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