TD Asset Management Inc Acquires 16,788 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• TD Asset Management Inc increased its stake in Vertex Pharmaceuticals by 3.6%, acquiring an additional 16,788 shares, bringing its total ownership to approximately 0.19% of the company valued at $235,553,000.
• The stock has experienced mixed analyst ratings, with consensus rating classified as "Moderate Buy," and an average price target of $512.30.
• In its latest earnings report, Vertex Pharmaceuticals missed earnings estimates with an EPS of $4.06, falling short of the expected $4.29, while revenue increased by 2.6% year-over-year.

TD Asset Management Inc boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 485,856 shares of the pharmaceutical company's stock after acquiring an additional 16,788 shares during the period. TD Asset Management Inc owned 0.19% of Vertex Pharmaceuticals worth $235,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in VRTX. Quent Capital LLC raised its holdings in Vertex Pharmaceuticals by 4.5% in the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after buying an additional 22 shares during the period. Advisor OS LLC grew its position in shares of Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after buying an additional 23 shares in the last quarter. Sculati Wealth Management LLC grew its position in shares of 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 buying an additional 25 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the period. Finally, Strategic Blueprint LLC boosted its holdings in Vertex Pharmaceuticals by 1.7% in the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.7%

Shares of Vertex Pharmaceuticals stock traded up $3.22 on Wednesday, hitting $471.63. 356,958 shares of the company's stock traded hands, compared to its average volume of 1,514,251. The company has a fifty day moving average of $453.96 and a two-hundred day moving average of $465.79. The company has a market capitalization of $121.11 billion, a price-to-earnings ratio of -120.22 and a beta of 0.41. 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 Incorporated has a one year low of $377.85 and a one year high of $519.88.

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 analysts' consensus estimates 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 the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business earned $4.76 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VRTX shares. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. HC Wainwright reissued a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Leerink Partners reaffirmed a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $512.30.

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.