Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in Vertex Pharmaceuticals by 10.5% during the first quarter, holding a total of 12,674 shares worth approximately $6.15 million.
• The company's latest earnings report revealed a drop in earnings per share to $4.06, missing analysts' expectations of $4.29, while revenue for the quarter was $2.77 billion, below the forecast of $2.85 billion.
• Currently, 90.96% of Vertex’s stock is owned by institutional investors, with a consensus rating of "Moderate Buy" and an average price target of $512.30 from investment analysts.

Avantax Advisory Services Inc. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,674 shares of the pharmaceutical company's stock after acquiring an additional 1,203 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Vertex Pharmaceuticals were worth $6,145,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VRTX. GAMMA Investing LLC grew its position in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock valued at $1,175,722,000 after acquiring an additional 2,421,073 shares during the last quarter. Capital World Investors grew its holdings in shares of Vertex Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the last quarter. Capital Research Global Investors grew its stake in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after acquiring an additional 1,426,746 shares in the last quarter. Edgewood Management LLC increased its position in shares of Vertex Pharmaceuticals by 91.2% during the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after acquiring an additional 1,410,238 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after acquiring an additional 1,117,214 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $1.58 during trading on Thursday, reaching $467.58. The company had a trading volume of 337,769 shares, compared to its average volume of 1,510,620. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a 50-day simple moving average of $454.64 and a 200-day simple moving average of $465.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The company has a market cap of $120.07 billion, a price-to-earnings ratio of -119.18 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the firm posted $4.76 earnings per share. The company's quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRTX. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partners restated a "market perform" rating and set a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Scotiabank cut their price target on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $512.30.

Vertex Pharmaceuticals Company 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.