Physician Wealth Advisors Inc. Acquires 40 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Physician Wealth Advisors Inc. boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 538 shares of the pharmaceutical company’s stock after buying an additional 40 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Truvestments Capital LLC raised its holdings in 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 acquiring an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $44,000. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 45.5% in the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company’s stock worth $45,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VRTX shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Scotiabank lowered their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 6th. Leerink Partners reissued a “market perform” rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Cantor Fitzgerald restated an “overweight” rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Fourteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.62.

Vertex Pharmaceuticals Stock Up 0.6%

Shares of VRTX stock traded up $2.63 during trading hours on Wednesday, reaching $454.79. 61,310 shares of the company’s stock were exchanged, compared to its average volume of 1,582,170. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $116.79 billion, a PE ratio of -115.95 and a beta of 0.41. The stock’s fifty day moving average price is $453.08 and its two-hundred day moving average price is $458.55.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company posted $4.76 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.