Concord Asset Management LLC VA Has $1.66 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Concord Asset Management LLC VA decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,380 shares of the pharmaceutical company’s stock after selling 188 shares during the period. Concord Asset Management LLC VA’s holdings in Vertex Pharmaceuticals were worth $1,664,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VRTX. Quent Capital LLC boosted its holdings in shares of Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company’s stock worth $249,000 after buying an additional 22 shares during the last quarter. Sculati Wealth Management LLC raised its stake in shares of Vertex Pharmaceuticals by 1.0% in the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company’s stock valued at $1,029,000 after buying an additional 25 shares during the period. Avidian Wealth Enterprises LLC grew its stake in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock valued at $594,000 after buying an additional 25 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of Vertex Pharmaceuticals by 1.7% in the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock valued at $726,000 after acquiring an additional 25 shares during the period. Finally, Breakwater Capital Group raised its holdings in shares of Vertex Pharmaceuticals by 1.5% in the 1st quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company’s stock valued at $866,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $472.35 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a market cap of $121.30 billion, a price-to-earnings ratio of -120.50 and a beta of 0.41. 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 company’s 50 day moving average is $447.15 and its 200 day moving average is $461.56.

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 net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business posted $4.76 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on VRTX. Bank of America increased their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Wolfe Research cut Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 7th. Royal Bank Of Canada set a $420.00 price target on Vertex Pharmaceuticals and gave the company a “sector perform” rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $511.71.

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.