Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,768 shares of the pharmaceutical company's stock after purchasing an additional 735 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Vertex Pharmaceuticals were worth $3,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Quent Capital LLC boosted its holdings in shares of Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after buying an additional 22 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of 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 purchasing an additional 23 shares in the last quarter. Spinnaker Trust boosted its position in shares of Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after purchasing an additional 25 shares in the last quarter. Strategic Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock worth $1,807,000 after purchasing an additional 25 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock worth $1,451,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating 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, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $515.04.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $4.61 during trading hours on Friday, hitting $455.45. The stock had a trading volume of 1,021,326 shares, compared to its average volume of 1,417,847. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The firm has a 50-day moving average price of $462.88 and a 200 day moving average price of $460.24. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm has a market capitalization of $116.96 billion, a price-to-earnings ratio of -207.02, a PEG ratio of 2.11 and a beta of 0.41.

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 analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.76 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.