Smith Group Asset Management LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Smith Group Asset Management LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,643 shares of the pharmaceutical company's stock after buying an additional 2,010 shares during the period. Smith Group Asset Management LLC's holdings in Vertex Pharmaceuticals were worth $22,129,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $31,000. SJS Investment Consulting Inc. raised its stake in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $44,000. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on VRTX. 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. Royal Bank Of Canada set a $420.00 target price on Vertex Pharmaceuticals and gave the company a "sector perform" rating in a report on Tuesday, June 17th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $511.62.

Vertex Pharmaceuticals Trading Up 1.6%

Shares of Vertex Pharmaceuticals stock traded up $6.96 on Tuesday, hitting $452.16. 1,146,638 shares of the company traded hands, compared to its average volume of 1,415,947. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $116.11 billion, a PE ratio of -115.35 and a beta of 0.42. The stock's 50 day moving average price is $453.85 and its 200-day moving average price is $458.59. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its 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). 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 for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the firm earned $4.76 earnings per share. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts predict 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.