RMR Wealth Builders Has $2.34 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

RMR Wealth Builders boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,835 shares of the pharmaceutical company's stock after purchasing an additional 596 shares during the period. RMR Wealth Builders' holdings in Vertex Pharmaceuticals were worth $2,344,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in 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 lifted 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 buying an additional 2,421,073 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $731,283,000. Capital World Investors lifted 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 buying an additional 1,514,993 shares during the last quarter. Finally, Capital Research Global Investors lifted 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 buying an additional 1,426,746 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 1.0%

Shares of VRTX traded down $4.61 during midday trading on Friday, hitting $455.45. The stock had a trading volume of 1,021,326 shares, compared to its average volume of 1,417,847. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business has a 50-day simple moving average of $462.88 and a two-hundred day simple moving average of $460.24. The firm has a market cap of $116.96 billion, a P/E ratio of -207.02, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.77 billion during 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 business's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VRTX shares. Scotiabank cut their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 6th. Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, 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 research report on Tuesday, May 6th. Fourteen investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $515.04.

About Vertex Pharmaceuticals

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.