Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,505 shares of the pharmaceutical company's stock after buying an additional 720 shares during the quarter. State of Alaska Department of Revenue's holdings in Vertex Pharmaceuticals were worth $22,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC grew its position in Vertex Pharmaceuticals by 1.3% in the first quarter. CWA Asset Management Group LLC now owns 6,205 shares of the pharmaceutical company's stock valued at $3,008,000 after acquiring an additional 81 shares in the last quarter. PUREfi Wealth LLC grew its holdings in Vertex Pharmaceuticals by 75.0% during the 1st quarter. PUREfi Wealth LLC now owns 894 shares of the pharmaceutical company's stock valued at $433,000 after purchasing an additional 383 shares in the last quarter. Roman Butler Fullerton & Co. increased its stake in Vertex Pharmaceuticals by 97.1% during the 1st quarter. Roman Butler Fullerton & Co. now owns 3,088 shares of the pharmaceutical company's stock worth $1,545,000 after buying an additional 1,521 shares during the period. Puzo Michael J lifted its holdings in Vertex Pharmaceuticals by 8.3% in the 1st quarter. Puzo Michael J now owns 15,285 shares of the pharmaceutical company's stock worth $7,410,000 after buying an additional 1,176 shares in the last quarter. Finally, Broderick Brian C boosted its position in Vertex Pharmaceuticals by 6.7% in the 1st quarter. Broderick Brian C now owns 18,001 shares of the pharmaceutical company's stock valued at $8,727,000 after buying an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $441.99 on Wednesday. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $461.30 and its 200-day moving average is $459.86. The stock has a market cap of $113.50 billion, a PE ratio of -112.75 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its 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 net margin of 8.91% and a negative return on equity of 3.36%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm earned $4.76 EPS. The firm's revenue was up 2.6% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on VRTX. Leerink Partners reiterated a "market perform" rating and issued a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Fourteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $513.32.

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.

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