Apollon Wealth Management LLC Increases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Apollon Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 106.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,127 shares of the pharmaceutical company's stock after purchasing an additional 12,955 shares during the period. Apollon Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $12,182,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VRTX. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $40,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $44,000. Prestige Wealth Management Group LLC increased its holdings in Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after acquiring an additional 35 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in shares of Vertex Pharmaceuticals by 46.2% in the first 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 during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.7%

Shares of NASDAQ:VRTX traded up $3.50 during mid-day trading on Monday, hitting $472.35. The company had a trading volume of 729,954 shares, compared to its average volume of 1,558,557. The company has a market capitalization of $121.30 billion, a PE ratio of -120.50 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a fifty day moving average price of $447.71 and a 200 day moving average price of $461.11. 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 (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data 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). 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 the consensus estimate of $2.85 billion. During the same period last year, the company earned $4.76 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

VRTX has been the subject of a number of recent research reports. Morgan Stanley lowered their price target 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. Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $511.71.

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.