Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has increased its stake in Vertex Pharmaceuticals by 21.5%, now owning 10,656 shares valued at approximately $5.17 million.
• Vertex Pharmaceuticals has reported Q1 earnings of $4.06 per share, missing consensus estimates and revealing a net margin of -8.91%.
• The stock has seen mixed ratings from analysts, with an average rating of "Moderate Buy" and a target price of $512.30.

HB Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 21.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,656 shares of the pharmaceutical company's stock after purchasing an additional 1,889 shares during the quarter. HB Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $5,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Vertex Pharmaceuticals by 60,572.3% in the first quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after acquiring an additional 2,421,073 shares in the last quarter. Capital World Investors boosted its holdings in Vertex Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after acquiring an additional 1,514,993 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Vertex Pharmaceuticals by 15.8% during the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after purchasing an additional 1,426,746 shares in the last quarter. Edgewood Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock valued at $1,190,626,000 after purchasing an additional 1,410,238 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock valued at $2,382,407,000 after purchasing an additional 1,117,214 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VRTX has been the subject of a number of research reports. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Morgan Stanley reduced 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. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price target on Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Finally, Leerink Partners restated a "market perform" rating and issued a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $512.30.

Vertex Pharmaceuticals Trading Up 0.8%

Shares of NASDAQ:VRTX traded up $3.87 during trading on Wednesday, hitting $472.28. The company had a trading volume of 281,738 shares, compared to its average volume of 1,513,743. The stock has a market cap of $121.28 billion, a price-to-earnings ratio of -120.49 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 company has a fifty day simple moving average of $453.96 and a two-hundred day simple moving average of $465.79. 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 issued its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share 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 business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the company posted $4.76 earnings per share. The company's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals 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.