Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Somerville Kurt F

Somerville Kurt F lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,876 shares of the pharmaceutical company's stock after purchasing an additional 2,484 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.9% of Somerville Kurt F's investment portfolio, making the stock its 24th biggest position. Somerville Kurt F's holdings in Vertex Pharmaceuticals were worth $11,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $44,000. Prestige Wealth Management Group LLC grew its position in Vertex Pharmaceuticals by 45.5% in the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after acquiring an additional 35 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $512.30.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:VRTX traded down $4.68 during trading on Thursday, hitting $472.27. 907,904 shares of the company were exchanged, compared to its average volume of 1,089,975. The firm's 50 day moving average price is $451.75 and its 200-day moving average price is $463.78. 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 stock has a market capitalization of $121.28 billion, a P/E ratio of -120.48 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The company had revenue of $2.77 billion during 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%. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $4.76 earnings per share. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.