Envestnet Asset Management Inc. Has $228.02 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Envestnet Asset Management Inc. increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 470,328 shares of the pharmaceutical company's stock after acquiring an additional 47,630 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Vertex Pharmaceuticals worth $228,024,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of VRTX. Brighton Jones LLC boosted its position in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after buying an additional 579 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 46.6% in the 4th quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company's stock valued at $394,000 after buying an additional 311 shares during the period. Larson Financial Group LLC increased its stake in shares of Vertex Pharmaceuticals by 16.5% in the 4th quarter. Larson Financial Group LLC now owns 486 shares of the pharmaceutical company's stock valued at $196,000 after buying an additional 69 shares during the period. Simplicity Wealth LLC increased its stake in shares of Vertex Pharmaceuticals by 12.4% in the 4th quarter. Simplicity Wealth LLC now owns 718 shares of the pharmaceutical company's stock valued at $289,000 after buying an additional 79 shares during the period. Finally, Johnson Investment Counsel Inc. increased its stake in shares of Vertex Pharmaceuticals by 0.8% in the 4th quarter. Johnson Investment Counsel Inc. now owns 7,883 shares of the pharmaceutical company's stock valued at $3,174,000 after buying an additional 63 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Royal Bank Of Canada set a $420.00 target price on Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Scotiabank decreased their price objective on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley decreased their price objective on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Bank of America lifted their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $511.62.

Vertex Pharmaceuticals Stock Up 2.7%

Shares of Vertex Pharmaceuticals stock traded up $12.60 during trading on Wednesday, reaching $478.96. The stock had a trading volume of 1,044,443 shares, compared to its average volume of 1,421,306. The company has a market capitalization of $123.00 billion, a price-to-earnings ratio of -122.18 and a beta of 0.41. The stock has a fifty day moving average price of $449.35 and a two-hundred day moving average price of $459.33. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. 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 earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (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 the consensus estimate of $2.85 billion. During the same quarter in the previous year, the company posted $4.76 EPS. The business's revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.