CWA Asset Management Group LLC Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CWA Asset Management Group LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,205 shares of the pharmaceutical company’s stock after buying an additional 81 shares during the quarter. CWA Asset Management Group LLC’s holdings in Vertex Pharmaceuticals were worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $31,000. Truvestments Capital LLC lifted its position in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after buying an additional 23 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Midwest Capital Advisors LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $41,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $44,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $448.40 on Thursday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business has a 50 day moving average price of $460.63 and a two-hundred day moving average price of $459.78. 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 firm has a market cap of $115.15 billion, a PE ratio of -114.39 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 net margin of 8.91% and a negative return on equity of 3.36%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned $4.76 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VRTX shares. Royal Bank Of Canada cut their price objective on Vertex Pharmaceuticals from $423.00 to $420.00 and set a “sector perform” rating on the stock in a report on Tuesday. Scotiabank cut their price objective on Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Erste Group Bank downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $513.32.

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.