Wedmont Private Capital Has $2.11 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wedmont Private Capital grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 19.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,355 shares of the pharmaceutical company's stock after purchasing an additional 722 shares during the quarter. Wedmont Private Capital's holdings in Vertex Pharmaceuticals were worth $2,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $31,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $37,000. Truvestments Capital LLC increased its stake 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 buying an additional 23 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Finally, Midwest Capital Advisors LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $41,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $450.50 on Friday. The company has a market capitalization of $115.69 billion, a PE ratio of -204.77, a PEG ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $465.01 and its 200-day moving average price is $460.33. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.76 EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Bank of America raised their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and boosted their price target for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

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.

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