Bessemer Group Inc. Acquires 307 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bessemer Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,484 shares of the pharmaceutical company’s stock after acquiring an additional 307 shares during the period. Bessemer Group Inc.’s holdings in Vertex Pharmaceuticals were worth $3,628,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Truvestments Capital LLC lifted its holdings in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after acquiring an additional 23 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $44,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Vertex Pharmaceuticals by 45.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company’s stock worth $45,000 after acquiring an additional 35 shares during the period. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on VRTX. Morgan Stanley cut their price target on shares of Vertex Pharmaceuticals from $464.00 to $460.00 and set an “equal weight” rating for the company in a report on Friday, June 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $511.62.

Vertex Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:VRTX opened at $441.30 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a 50 day moving average of $454.50 and a 200-day moving average of $458.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29. The stock has a market cap of $113.33 billion, a price-to-earnings ratio of -112.58 and a beta of 0.41.

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