Oppenheimer Asset Management Inc. Acquires 1,166 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,694 shares of the pharmaceutical company’s stock after purchasing an additional 1,166 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $10,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $31,000. Truvestments Capital LLC raised its stake 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 acquiring an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $40,000. Midwest Capital Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $41,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $44,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the company a “sector perform” rating in a report on Tuesday, June 17th. Wolfe Research lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 7th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $513.14.

Vertex Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ VRTX opened at $443.54 on Tuesday. The company’s fifty day moving average is $458.17 and its 200-day moving average is $459.38. The stock has a market cap of $113.90 billion, a price-to-earnings ratio of -113.15 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a quick ratio of 2.29, a current ratio of 2.65 and a debt-to-equity ratio of 0.01.

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). The firm 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 3.36% and a negative net margin of 8.91%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.76 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.