Pinnacle Financial Partners Inc Acquires 3,158 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Pinnacle Financial Partners Inc lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 51.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,354 shares of the pharmaceutical company's stock after acquiring an additional 3,158 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Vertex Pharmaceuticals were worth $4,535,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Quent Capital LLC raised its position in shares of Vertex Pharmaceuticals by 4.5% during the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after acquiring an additional 22 shares during the last quarter. Truvestments Capital LLC increased its position in Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the period. Moors & Cabot Inc. raised its holdings in Vertex Pharmaceuticals by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock worth $1,451,000 after purchasing an additional 25 shares during the last quarter. Sculati Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 1.0% in the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after purchasing an additional 25 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its position in shares of Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Leerink Partners reissued a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wolfe Research downgraded Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $511.62.

Vertex Pharmaceuticals Stock Up 1.1%

Shares of NASDAQ:VRTX opened at $457.03 on Thursday. The business's 50 day moving average is $452.38 and its 200 day moving average is $458.54. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The stock has a market cap of $117.37 billion, a price-to-earnings ratio of -116.59 and a beta of 0.41. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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). The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations 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 was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.76 earnings per share. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.

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