W.G. Shaheen & Associates DBA Whitney & Co Acquires 549 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,795 shares of the pharmaceutical company's stock after acquiring an additional 549 shares during the period. Vertex Pharmaceuticals makes up approximately 2.3% of W.G. Shaheen & Associates DBA Whitney & Co's investment portfolio, making the stock its 11th largest position. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Vertex Pharmaceuticals were worth $21,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mascagni Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $44,000. Prestige Wealth Management Group LLC grew its stake in Vertex Pharmaceuticals by 45.5% during the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after buying an additional 35 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VRTX shares. HC Wainwright restated a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Scotiabank dropped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $512.30.

Vertex Pharmaceuticals Stock Down 0.6%

VRTX traded down $2.62 during mid-day trading on Friday, reaching $469.65. 1,176,847 shares of the stock were exchanged, compared to its average volume of 1,521,209. 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 stock has a market capitalization of $120.61 billion, a PE ratio of -119.81 and a beta of 0.41. The company has a 50 day moving average price of $452.51 and a two-hundred day moving average price of $464.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year 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 (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. Vertex Pharmaceuticals's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.76 earnings per share. As a group, research analysts anticipate 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.