Signaturefd LLC Buys 656 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Signaturefd LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,705 shares of the pharmaceutical company's stock after purchasing an additional 656 shares during the period. Signaturefd LLC's holdings in Vertex Pharmaceuticals were worth $2,766,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Mascagni Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $31,000. SJS Investment Consulting Inc. raised its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, City State Bank raised its position in Vertex Pharmaceuticals by 746.2% in the 1st quarter. City State Bank now owns 110 shares of the pharmaceutical company's stock valued at $53,000 after buying an additional 97 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRTX. Morgan Stanley dropped their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research report on Monday. Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $511.71.

Vertex Pharmaceuticals Stock Performance

VRTX traded down $3.92 during trading on Friday, hitting $459.36. The stock had a trading volume of 568,625 shares, compared to its average volume of 1,419,302. The company has a 50 day moving average price of $448.80 and a 200-day moving average price of $462.07. The firm has a market cap of $117.96 billion, a price-to-earnings ratio of -117.23 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year 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.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.76 earnings per share. As a group, research analysts predict 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.