Spire Wealth Management Increases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Spire Wealth Management increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,576 shares of the pharmaceutical company’s stock after buying an additional 72 shares during the quarter. Spire Wealth Management’s holdings in Vertex Pharmaceuticals were worth $9,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VRTX. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $31,000. Truvestments Capital LLC boosted its holdings in Vertex Pharmaceuticals by 30.3% during the 4th 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 stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $44,000. Finally, Prestige Wealth Management Group LLC increased its stake in shares of Vertex Pharmaceuticals by 45.5% in 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 during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “sector perform” rating in a report on Tuesday, June 17th. Bank of America upped their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Scotiabank reduced their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 6th. Finally, Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a research note on Friday, June 20th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $513.14.

Vertex Pharmaceuticals Trading Up 1.5%

Vertex Pharmaceuticals stock opened at $450.27 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a market capitalization of $115.63 billion, a price-to-earnings ratio of -114.86 and a beta of 0.41. The business’s fifty day simple moving average is $457.17 and its two-hundred day simple moving average is $459.32. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the firm earned $4.76 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company 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.