Proficio Capital Partners LLC Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Proficio Capital Partners LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 112.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,079 shares of the pharmaceutical company's stock after acquiring an additional 1,101 shares during the quarter. Proficio Capital Partners LLC's holdings in Vertex Pharmaceuticals were worth $1,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $1,374,948,000. GAMMA Investing LLC raised its position in shares of Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after acquiring an additional 2,421,073 shares in the last quarter. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after acquiring an additional 1,514,993 shares in the last quarter. Capital Research Global Investors raised its position in shares of Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after acquiring an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC raised its position in shares of Vertex Pharmaceuticals by 91.2% in the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after acquiring an additional 1,410,238 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX traded down $4.68 during trading on Thursday, reaching $472.27. The stock had a trading volume of 907,895 shares, compared to its average volume of 1,523,696. The stock has a market cap of $121.28 billion, a PE ratio of -120.48 and a beta of 0.41. 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 Incorporated has a one year low of $377.85 and a one year high of $519.88. The business has a 50-day moving average of $451.75 and a 200-day moving average of $463.78.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion for 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.76 earnings per share. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Scotiabank cut their target price on 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada set a $420.00 price objective on Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Fourteen analysts have rated the stock with a hold rating, thirteen 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 currently has an average rating of "Moderate Buy" and an average target price of $512.30.

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.