Portside Wealth Group LLC Acquires 679 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Portside Wealth Group LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 30.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,945 shares of the pharmaceutical company's stock after acquiring an additional 679 shares during the quarter. Portside Wealth Group LLC's holdings in Vertex Pharmaceuticals were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC grew its holdings 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 valued at $249,000 after buying an additional 22 shares during the last quarter. Truvestments Capital LLC increased its holdings in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares in the last quarter. Spinnaker Trust raised its position in Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after buying an additional 25 shares during the last quarter. Strategic Advisors LLC lifted its stake in Vertex Pharmaceuticals by 0.6% during the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares during the period. Finally, Moors & Cabot Inc. grew its stake in shares of Vertex Pharmaceuticals by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock worth $1,451,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded down $4.35 during trading on Monday, hitting $446.15. 912,384 shares of the company's stock were exchanged, compared to its average volume of 1,417,005. The business's 50-day simple moving average is $465.01 and its 200 day simple moving average is $460.40. The company has a market cap of $114.57 billion, a price-to-earnings ratio of -202.80, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.76 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.