Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Raised by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 794 shares of the pharmaceutical company’s stock after buying an additional 72 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $385,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $40,000. Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $44,000. SJS Investment Consulting Inc. increased its stake in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after purchasing an additional 30 shares in the last quarter. Finally, Transce3nd LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $50,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.6%

Shares of Vertex Pharmaceuticals stock opened at $469.65 on Friday. The firm has a market cap of $120.61 billion, a price-to-earnings ratio of -119.81 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The stock has a 50-day simple moving average of $453.13 and a 200-day simple moving average of $464.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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). 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 firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.76 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VRTX shares. Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating on the stock in a research note on Friday, June 20th. Wolfe Research cut Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted 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, July 14th. Scotiabank dropped their price target 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, Royal Bank Of Canada set a $420.00 price target on Vertex Pharmaceuticals and gave the stock a “sector perform” rating in a research note on Tuesday, June 17th. Fourteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $512.30.

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.