Sowell Financial Services LLC Makes New $1.37 Million Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sowell Financial Services LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,826 shares of the pharmaceutical company's stock, valued at approximately $1,370,000.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC raised its stake in shares of Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after buying an additional 22 shares during the period. Truvestments Capital LLC raised its position in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares during the period. Moors & Cabot Inc. raised its position in Vertex Pharmaceuticals by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock worth $1,451,000 after acquiring an additional 25 shares during the period. Sculati Wealth Management LLC raised its position in Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after acquiring an additional 25 shares during the period. Finally, Breakwater Capital Group raised its position in Vertex Pharmaceuticals by 1.5% during the first quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company's stock worth $866,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VRTX shares. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partners reissued a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Scotiabank reduced their price objective on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $513.32.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $441.99 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The stock has a market cap of $113.50 billion, a PE ratio of -112.75 and a beta of 0.41. The firm has a 50-day simple moving average of $461.30 and a two-hundred day simple moving average of $459.86. 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 posted its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business posted $4.76 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts forecast 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.

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