467 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 467 shares of the pharmaceutical company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $37,000. Truvestments Capital LLC increased its stake in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after acquiring an additional 23 shares during the period. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth $40,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $41,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRTX shares. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Bank of America boosted their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $515.04.

Vertex Pharmaceuticals Trading Up 0.2%

NASDAQ:VRTX opened at $452.44 on Thursday. The business’s 50-day simple moving average is $463.17 and its 200-day simple moving average is $460.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $116.19 billion, a PE ratio of -205.65, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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 2.02% and a negative net margin of 4.86%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the company earned $4.76 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.