KMG Fiduciary Partners LLC Purchases New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

KMG Fiduciary Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 511 shares of the pharmaceutical company’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC increased its position in Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company’s stock worth $249,000 after purchasing an additional 22 shares during the last quarter. Truvestments Capital LLC increased its position in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares during the last quarter. Spinnaker Trust increased its position in Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after purchasing an additional 25 shares during the last quarter. Strategic Advisors LLC increased its position in Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after purchasing an additional 25 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company’s stock worth $1,451,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $450.50 on Monday. The stock has a 50 day moving average of $465.01 and a two-hundred day moving average of $460.40. 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 12 month low of $377.85 and a 12 month high of $519.88. The company has a market capitalization of $115.69 billion, a P/E ratio of -204.77, a P/E/G ratio of 2.11 and a beta of 0.41.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partners reaffirmed a “market perform” rating and issued a $503.00 target price (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a “sector perform” rating in a report on Tuesday, May 6th. Leerink Partnrs lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $515.04.

About Vertex Pharmaceuticals

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.