QRG Capital Management Inc. Grows Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

QRG Capital Management Inc. grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,393 shares of the pharmaceutical company's stock after acquiring an additional 831 shares during the period. QRG Capital Management Inc.'s holdings in Vertex Pharmaceuticals were worth $8,433,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. 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 valued at $249,000 after acquiring an additional 22 shares during the last quarter. Truvestments Capital LLC boosted its holdings in shares of Vertex Pharmaceuticals by 30.3% in 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 during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after acquiring an additional 25 shares during the last quarter. Sculati Wealth Management LLC boosted its holdings 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 valued at $1,029,000 after acquiring an additional 25 shares during the last quarter. Finally, Breakwater Capital Group lifted its stake in shares of Vertex Pharmaceuticals by 1.5% in the 1st quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company's stock valued at $866,000 after purchasing an additional 27 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $441.99 on Wednesday. The firm's 50-day moving average is $461.30 and its two-hundred day moving average is $459.86. 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 2.65 and a quick ratio of 2.29. The company has a market capitalization of $113.50 billion, a PE ratio of -112.75 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 net margin of 8.91% and a negative return on equity of 3.36%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the company posted $4.76 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VRTX shares. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partners reiterated a "market perform" rating and issued a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Bank of America boosted their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $513.32.

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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