SG Americas Securities LLC Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

SG Americas Securities LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 366.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,273 shares of the pharmaceutical company's stock after purchasing an additional 17,502 shares during the quarter. SG Americas Securities LLC's holdings in Vertex Pharmaceuticals were worth $10,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth $37,000. Truvestments Capital LLC raised 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 worth $40,000 after buying an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $40,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $41,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. JPMorgan Chase & Co. upped their price objective on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Leerink Partners reaffirmed a "market perform" rating and set a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Royal Bank of Canada boosted their target price 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. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Trading Down 1.0%

Shares of VRTX traded down $4.54 during trading on Friday, reaching $455.53. 421,597 shares of the company traded hands, compared to its average volume of 1,413,136. The stock has a market cap of $116.98 billion, a PE ratio of -206.60, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The stock has a 50-day simple moving average of $462.88 and a 200-day simple moving average of $460.24.

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 analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the firm earned $4.76 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.