Atle Fund Management AB Buys 551 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atle Fund Management AB boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,808 shares of the pharmaceutical company's stock after acquiring an additional 551 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 4.9% of Atle Fund Management AB's portfolio, making the stock its 7th largest holding. Atle Fund Management AB's holdings in Vertex Pharmaceuticals were worth $11,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth $31,000. SJS Investment Consulting Inc. boosted its stake in shares of Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $44,000. Finally, City State Bank lifted its position in Vertex Pharmaceuticals by 746.2% during the 1st quarter. City State Bank now owns 110 shares of the pharmaceutical company's stock valued at $53,000 after acquiring an additional 97 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.7%

VRTX traded down $3.46 during trading on Friday, hitting $459.81. 975,143 shares of the company's stock traded hands, compared to its average volume of 1,419,536. The company's 50 day simple moving average is $449.49 and its two-hundred day simple moving average is $462.88. The stock has a market capitalization of $118.08 billion, a price-to-earnings ratio of -117.30 and a beta of 0.41. 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 issued its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. Vertex Pharmaceuticals's revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.76 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. HC Wainwright reiterated a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Finally, Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $511.71.

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.