Concurrent Investment Advisors LLC Purchases 1,141 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Concurrent Investment Advisors LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 55.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,213 shares of the pharmaceutical company's stock after purchasing an additional 1,141 shares during the period. Concurrent Investment Advisors LLC's holdings in Vertex Pharmaceuticals were worth $1,558,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Aries Wealth Management bought a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $293,000. Polar Asset Management Partners Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $22,954,000. Brighton Jones LLC raised its position in shares of Vertex Pharmaceuticals by 45.0% during the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after purchasing an additional 1,994 shares during the period. GAMMA Investing LLC increased its holdings in Vertex Pharmaceuticals by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after acquiring an additional 1,005 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in Vertex Pharmaceuticals by 189.7% in the 4th quarter. APG Asset Management N.V. now owns 359,285 shares of the pharmaceutical company's stock valued at $139,724,000 after acquiring an additional 235,265 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 1.5%

Vertex Pharmaceuticals stock traded up $6.80 during trading hours on Wednesday, hitting $473.16. The company had a trading volume of 100,972 shares, compared to its average volume of 1,417,830. The firm has a market capitalization of $121.51 billion, a P/E ratio of -120.85 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The firm's fifty day moving average is $449.35 and its 200-day moving average is $459.33. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results 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 net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the business posted $4.76 earnings per share. The business's quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. HC Wainwright reiterated a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Fourteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.