Mission Wealth Management LP Increases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mission Wealth Management LP lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,911 shares of the pharmaceutical company’s stock after purchasing an additional 859 shares during the quarter. Mission Wealth Management LP’s holdings in Vertex Pharmaceuticals were worth $3,350,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Truvestments Capital LLC grew its holdings in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $40,000. Midwest Capital Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $41,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:VRTX opened at $450.91 on Tuesday. The firm’s 50 day moving average price is $462.11 and its 200 day moving average price is $459.98. The stock has a market cap of $115.79 billion, a price-to-earnings ratio of -204.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the business earned $4.76 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Royal Bank of Canada lifted their price target on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 6th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Leerink Partners reiterated a “market perform” rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $515.04.

Vertex Pharmaceuticals 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.