GAM Holding AG Grows Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GAM Holding AG increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,045 shares of the pharmaceutical company’s stock after buying an additional 988 shares during the period. GAM Holding AG’s holdings in Vertex Pharmaceuticals were worth $5,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $31,000. Truvestments Capital LLC increased its position in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $40,000. Midwest Capital Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $41,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of several research analyst reports. Scotiabank dropped their target price on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Morgan Stanley dropped their target price on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “sector perform” rating in a research report on Tuesday. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $513.14.

Vertex Pharmaceuticals Trading Down 1.7%

Vertex Pharmaceuticals stock opened at $440.87 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $459.22 and a two-hundred day moving average price of $459.55. The firm has a market capitalization of $113.22 billion, a price-to-earnings ratio of -112.47 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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 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%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.76 earnings per share. Sell-side analysts expect 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.