Wakefield Asset Management LLLP Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wakefield Asset Management LLLP bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,276 shares of the pharmaceutical company's stock, valued at approximately $619,000.

A number of other institutional investors have also modified their holdings of VRTX. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $31,000. SJS Investment Consulting Inc. boosted its holdings in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $44,000. Finally, City State Bank raised its position in shares of Vertex Pharmaceuticals by 746.2% in the 1st quarter. City State Bank now owns 110 shares of the pharmaceutical company's stock valued at $53,000 after purchasing an additional 97 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 equities analysts have issued reports on the company. Morgan Stanley cut their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Wolfe Research lowered Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Fourteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $512.30.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $4.68 during trading hours on Thursday, reaching $472.27. 907,904 shares of the company's stock traded hands, compared to its average volume of 1,089,975. The firm has a market capitalization of $121.28 billion, a price-to-earnings ratio of -120.48 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The business's fifty day simple moving average is $452.51 and its two-hundred day simple moving average is $464.26.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly 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 business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. Vertex Pharmaceuticals's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business posted $4.76 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.