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

Edgestream Partners L.P. boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 165.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,842 shares of the pharmaceutical company’s stock after purchasing an additional 3,640 shares during the period. Edgestream Partners L.P.’s holdings in Vertex Pharmaceuticals were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Destination Wealth Management grew its position in Vertex Pharmaceuticals by 5.0% in the fourth 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 in the last quarter. Draper Asset Management LLC grew its position in Vertex Pharmaceuticals by 0.5% in the fourth 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 in the last quarter. Callan Family Office LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at $987,000. Hartford Funds Management Co LLC grew its position in Vertex Pharmaceuticals by 4.3% in the fourth 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 in the last quarter. Finally, Welch & Forbes LLC grew its position in Vertex Pharmaceuticals by 0.6% in the fourth 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 in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on VRTX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Eleven 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $506.70.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $488.29 on Monday. 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 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $448.27 and a two-hundred day simple moving average of $461.15. The stock has a market capitalization of $125.39 billion, a price-to-earnings ratio of -221.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is currently owned by corporate insiders.

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.