665 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Acquired by Costello Asset Management INC

Costello Asset Management INC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 665 shares of the pharmaceutical company’s stock, valued at approximately $322,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $44,000. SJS Investment Consulting Inc. boosted its stake in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after purchasing an additional 30 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $46,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $472.27 on Tuesday. 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 Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a 50 day moving average of $456.34 and a two-hundred day moving average of $467.46. The firm has a market capitalization of $121.28 billion, a PE ratio of -120.48 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company posted ($12.83) earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VRTX shares. Morgan Stanley lowered their target price on Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a report on Friday, June 20th. Wolfe Research downgraded Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Leerink Partnrs downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $509.89.

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.