Procyon Advisors LLC Has $9.02 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Procyon Advisors LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,598 shares of the pharmaceutical company's stock after purchasing an additional 3,963 shares during the quarter. Procyon Advisors LLC's holdings in Vertex Pharmaceuticals were worth $9,017,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $31,000. Golden State Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $37,000. Truvestments Capital LLC grew its holdings in shares of 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 acquiring an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $40,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $41,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at $13,256,000. This trade represents a 10.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Leerink Partners reiterated a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $515.04.

Vertex Pharmaceuticals Trading Up 1.5%

Shares of NASDAQ VRTX traded up $6.68 during midday trading on Friday, reaching $450.50. 960,469 shares of the stock were exchanged, compared to its average volume of 1,417,133. The business has a 50-day simple moving average of $465.01 and a two-hundred day simple moving average of $460.27. The company has a market capitalization of $115.69 billion, a price-to-earnings ratio of -204.77, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month 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 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). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the business earned $4.76 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect 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.