Summit Trail Advisors LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Summit Trail Advisors LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 19.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,283 shares of the pharmaceutical company's stock after purchasing an additional 874 shares during the period. Summit Trail Advisors LLC's holdings in Vertex Pharmaceuticals were worth $2,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Vertex Pharmaceuticals by 1.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,364 shares of the pharmaceutical company's stock valued at $22,478,000 after buying an additional 695 shares during the last quarter. Smith Group Asset Management LLC lifted its position in shares of Vertex Pharmaceuticals by 4.6% during the first quarter. Smith Group Asset Management LLC now owns 45,643 shares of the pharmaceutical company's stock worth $22,129,000 after purchasing an additional 2,010 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Vertex Pharmaceuticals by 6.7% during the first quarter. Mather Group LLC. now owns 4,146 shares of the pharmaceutical company's stock valued at $2,010,000 after purchasing an additional 259 shares during the period. Alta Advisers Ltd grew its holdings in shares of Vertex Pharmaceuticals by 45.9% in the first quarter. Alta Advisers Ltd now owns 1,271 shares of the pharmaceutical company's stock worth $616,000 after purchasing an additional 400 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in Vertex Pharmaceuticals by 26.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 334 shares of the pharmaceutical company's stock worth $162,000 after buying an additional 69 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRTX shares. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Leerink Partners reaffirmed a "market perform" rating and set a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Scotiabank dropped their price objective on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Bank of America upped their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Fourteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $511.62.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $445.20 on Tuesday. The firm's fifty day simple moving average is $453.85 and its two-hundred day simple moving average is $458.59. The firm has a market capitalization of $114.33 billion, a P/E ratio of -113.57 and a beta of 0.42. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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 return on equity of 3.36% and a negative net margin of 8.91%. The business had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the firm earned $4.76 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.

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