TBH Global Asset Management LLC Invests $297,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TBH Global Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 613 shares of the pharmaceutical company's stock, valued at approximately $297,000.

Several other institutional investors have also modified their holdings of VRTX. Brighton Jones LLC increased its position in shares of Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after purchasing an additional 579 shares during the last quarter. Flputnam Investment Management Co. increased its position in shares of Vertex Pharmaceuticals by 238.0% during the 4th quarter. Flputnam Investment Management Co. now owns 31,443 shares of the pharmaceutical company's stock worth $12,662,000 after purchasing an additional 22,141 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $6,106,000. Fisher Asset Management LLC increased its position in shares of Vertex Pharmaceuticals by 10.7% during the 4th quarter. Fisher Asset Management LLC now owns 29,908 shares of the pharmaceutical company's stock worth $12,044,000 after purchasing an additional 2,886 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Vertex Pharmaceuticals by 14.2% during the 4th quarter. US Bancorp DE now owns 30,343 shares of the pharmaceutical company's stock worth $12,219,000 after purchasing an additional 3,764 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a research report on Friday, June 20th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Royal Bank Of Canada set a $420.00 price objective on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Finally, Scotiabank cut their price objective on 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. Fourteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $511.62.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $441.30 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a market cap of $113.33 billion, a PE ratio of -112.58 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The business has a 50-day simple moving average of $454.50 and a 200-day simple moving average of $458.76.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 3.36% and a negative net margin of 8.91%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the firm posted $4.76 earnings per share. The business's quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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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