Trifecta Capital Advisors LLC Grows Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Trifecta Capital Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 14,538 shares of the pharmaceutical company’s stock after buying an additional 573 shares during the quarter. Vertex Pharmaceuticals comprises 1.5% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 20th largest holding. Trifecta Capital Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $7,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $31,000. SJS Investment Consulting Inc. increased its stake in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after acquiring an additional 30 shares during the last quarter. Truvestments Capital LLC raised 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 valued at $40,000 after purchasing an additional 23 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $40,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $41,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRTX. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Bank of America boosted their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.32.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $448.40 on Thursday. The company has a market cap of $115.15 billion, a PE ratio of -114.39 and a beta of 0.41. The firm’s 50 day moving average price is $460.63 and its 200-day moving average price is $459.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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 3.36% and a negative net margin of 8.91%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the company earned $4.76 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.