HB Wealth Management LLC Acquires 1,889 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

HB Wealth Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,656 shares of the pharmaceutical company’s stock after acquiring an additional 1,889 shares during the quarter. HB Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $5,166,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares during the period. Ausdal Financial Partners Inc. increased its holdings in Vertex Pharmaceuticals by 6.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 757 shares of the pharmaceutical company’s stock worth $305,000 after purchasing an additional 43 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $5,359,000. Pictet Asset Management Holding SA lifted its holdings in shares of Vertex Pharmaceuticals by 0.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 519,668 shares of the pharmaceutical company’s stock valued at $209,270,000 after purchasing an additional 1,665 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Vertex Pharmaceuticals by 1.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,963 shares of the pharmaceutical company’s stock worth $3,609,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $469.65 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 business’s 50-day moving average price is $453.13 and its two-hundred day moving average price is $465.05. The stock has a market cap of $120.61 billion, a PE ratio of -119.81 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The business 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 firm earned $4.76 EPS. The business’s revenue was up 2.6% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of several research 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 research note on Tuesday, June 17th. Scotiabank decreased their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partners reaffirmed a “market perform” rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen research 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. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $512.30.

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.