World Investment Advisors Invests $424,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

World Investment Advisors acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 874 shares of the pharmaceutical company's stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Brighton Jones LLC increased its stake in shares of Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after acquiring an additional 579 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 46.6% in the fourth quarter. Proficio Capital Partners LLC now owns 978 shares of the pharmaceutical company's stock worth $394,000 after acquiring an additional 311 shares during the period. Larson Financial Group LLC grew its position in Vertex Pharmaceuticals by 16.5% during the fourth 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. Independent Advisor Alliance increased its holdings in Vertex Pharmaceuticals by 89.8% in the fourth quarter. Independent Advisor Alliance now owns 2,228 shares of the pharmaceutical company's stock valued at $897,000 after buying an additional 1,054 shares in the last quarter. Finally, Davis R M Inc. raised its position in shares of Vertex Pharmaceuticals by 24.4% in the fourth quarter. Davis R M Inc. now owns 1,045 shares of the pharmaceutical company's stock worth $421,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partners reissued a "market perform" rating and set a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. 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. Finally, William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen 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, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $511.62.

Vertex Pharmaceuticals Trading Up 2.7%

VRTX opened at $478.96 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The company's 50 day simple moving average is $448.74 and its two-hundred day simple moving average is $459.47. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a market capitalization of $123.00 billion, a price-to-earnings ratio of -122.18 and a beta of 0.41.

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 for the quarter, missing analysts' consensus estimates 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 business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same period last year, the business earned $4.76 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.

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