Privium Fund Management B.V. Purchases New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Privium Fund Management B.V. purchased 8,300 shares of Vertex Pharmaceuticals, valued at approximately $4 million, making it the fund's 19th largest holding.
• Vertex Pharmaceuticals reported a loss of $0.23 per share in its latest earnings release, with revenue falling short of analysts' expectations at $2.77 billion.
• Majority of shares, around 90.96%, are owned by institutional investors, indicating strong institutional interest in Vertex Pharmaceuticals.

Privium Fund Management B.V. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,300 shares of the pharmaceutical company's stock, valued at approximately $4,024,000. Vertex Pharmaceuticals comprises approximately 1.0% of Privium Fund Management B.V.'s investment portfolio, making the stock its 19th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC boosted its holdings in shares of Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after buying an additional 22 shares during the last quarter. Advisor OS LLC raised its position in Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after acquiring an additional 23 shares during the period. Sculati Wealth Management LLC raised its position in Vertex Pharmaceuticals by 1.0% in the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after acquiring an additional 25 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after acquiring an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC grew its position in shares of Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Up 1.2%

Shares of VRTX stock opened at $462.13 on Friday. The company has a market capitalization of $118.67 billion, a PE ratio of -117.89 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The business's fifty day moving average is $455.62 and its 200 day moving average is $466.46. 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 released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business 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%. The business's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.76 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VRTX shares. 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. Leerink Partners reissued a "market perform" rating and set a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley lowered their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, HC Wainwright reissued a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 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.

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