J.P. Marvel Investment Advisors LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• J.P. Marvel Investment Advisors LLC increased its stake in Vertex Pharmaceuticals by 25.0%, acquiring an additional 1,600 shares, bringing its total holdings to 7,992 shares worth $3,875,000.
• Vertex Pharmaceuticals reported $4.06 earnings per share for the last quarter, missing analysts' estimates, with a revenue of $2.77 billion against a forecast of $2.85 billion.
• Analysts have given Vertex Pharmaceuticals an average rating of "Moderate Buy" with a consensus price target of $512.30, indicating strong interest from investment firms.

J.P. Marvel Investment Advisors LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,992 shares of the pharmaceutical company's stock after purchasing an additional 1,600 shares during the quarter. J.P. Marvel Investment Advisors LLC's holdings in Vertex Pharmaceuticals were worth $3,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $44,000. SJS Investment Consulting Inc. lifted its stake in Vertex Pharmaceuticals by 46.2% in the 1st 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. Finally, Transce3nd LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX traded down $8.82 on Monday, hitting $460.83. 2,103,943 shares of the company's stock traded hands, compared to its average volume of 1,525,364. The firm has a market cap of $118.34 billion, a price-to-earnings ratio of -117.56 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's 50 day simple moving average is $453.13 and its 200-day simple moving average is $465.42. 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 announced its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $4.76 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

VRTX has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Scotiabank decreased their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 6th. 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 downgraded 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, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $512.30.

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.