Pines Wealth Management LLC Takes $205,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Pines Wealth Management LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 435 shares of the pharmaceutical company’s stock, valued at approximately $205,000.

Several other hedge funds also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $37,000. Truvestments Capital LLC grew its position in Vertex Pharmaceuticals by 30.3% in the fourth 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 period. Mpwm Advisory Solutions LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $40,000. Finally, Midwest Capital Advisors LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $41,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on VRTX. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Leerink Partnrs cut Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $515.04.

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $450.50 on Friday. The stock’s 50 day moving average is $465.01 and its two-hundred day moving average is $460.33. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a market capitalization of $115.69 billion, a PE ratio of -204.77, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 return on equity of 2.02% and a negative net margin of 4.86%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the company posted $4.76 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.