Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,529 shares of the pharmaceutical company's stock after purchasing an additional 11,903 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Vertex Pharmaceuticals were worth $52,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quent Capital LLC raised its holdings in Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after acquiring an additional 22 shares in the last quarter. Truvestments Capital LLC raised its holdings in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after acquiring an additional 23 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after acquiring an additional 25 shares in the last quarter. Sculati Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 1.0% in the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock valued at $1,029,000 after acquiring an additional 25 shares in the last quarter. Finally, Breakwater Capital Group raised its holdings in Vertex Pharmaceuticals by 1.5% in the 1st quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company's stock valued at $866,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.5%

NASDAQ:VRTX opened at $441.30 on Monday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $113.33 billion, a P/E ratio of -112.58 and a beta of 0.42. The stock's fifty day simple moving average is $454.50 and its 200-day simple moving average is $458.72.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) 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 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 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

VRTX has been the subject of a number of recent research reports. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Leerink Partners reissued a "market perform" rating and issued a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Morgan Stanley dropped their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Finally, Royal Bank Of Canada set a $420.00 target price on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $511.62.

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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