WCM Investment Management LLC Buys 7,418 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

WCM Investment Management LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,098,940 shares of the pharmaceutical company's stock after buying an additional 7,418 shares during the quarter. WCM Investment Management LLC owned about 0.43% of Vertex Pharmaceuticals worth $541,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $31,000. SJS Investment Consulting Inc. lifted its position in Vertex Pharmaceuticals by 46.2% during 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. Truvestments Capital LLC grew its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $44,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Up 1.1%

Vertex Pharmaceuticals stock traded up $4.87 during trading hours on Wednesday, hitting $457.03. 978,282 shares of the stock traded hands, compared to its average volume of 1,416,057. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a market cap of $117.37 billion, a PE ratio of -116.59 and a beta of 0.41. The firm's 50-day moving average price is $453.08 and its two-hundred day moving average price is $458.55. 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 (NASDAQ:VRTX - Get Free Report) last released 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). The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.76 earnings per share. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Fourteen investment 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $511.62.

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.