Edgestream Partners L.P. Buys 3,640 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Edgestream Partners L.P. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 165.3% during the 4th quarter, HoldingsChannel reports. The firm owned 5,842 shares of the pharmaceutical company’s stock after acquiring an additional 3,640 shares during the period. Edgestream Partners L.P.’s holdings in Vertex Pharmaceuticals were worth $2,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Destination Wealth Management grew its holdings in shares of Vertex Pharmaceuticals by 5.0% during the 4th quarter. Destination Wealth Management now owns 3,529 shares of the pharmaceutical company’s stock valued at $1,421,000 after purchasing an additional 168 shares during the last quarter. Draper Asset Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.5% during the 4th quarter. Draper Asset Management LLC now owns 6,333 shares of the pharmaceutical company’s stock valued at $2,601,000 after purchasing an additional 33 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $987,000. Hartford Funds Management Co LLC grew its holdings in shares of Vertex Pharmaceuticals by 4.3% during the 4th quarter. Hartford Funds Management Co LLC now owns 1,121 shares of the pharmaceutical company’s stock valued at $451,000 after purchasing an additional 46 shares during the last quarter. Finally, Welch & Forbes LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.6% during the 4th quarter. Welch & Forbes LLC now owns 197,781 shares of the pharmaceutical company’s stock valued at $79,647,000 after purchasing an additional 1,162 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Up 0.5 %

Vertex Pharmaceuticals stock opened at $488.29 on Monday. The company has a quick ratio of 2.35, a current ratio of 2.69 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 firm’s fifty day moving average is $448.27 and its 200 day moving average is $461.15. The company has a market capitalization of $125.39 billion, a PE ratio of -221.95, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 1,084 shares of company stock worth $505,512. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, Truist Financial boosted their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $506.70.

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.