Edgestream Partners L.P. Acquires 5,677 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Edgestream Partners L.P. lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 769.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,415 shares of the pharmaceutical company’s stock after acquiring an additional 5,677 shares during the period. Edgestream Partners L.P.’s holdings in Vertex Pharmaceuticals were worth $2,856,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 45 shares during the last quarter. Access Investment Management LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth $27,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the second quarter worth $29,000. Finally, Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter valued at $32,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VRTX shares. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Leerink Partners upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $458.00 to $456.00 in a report on Thursday, September 25th. Evercore ISI dropped their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Finally, UBS Group decreased their target price on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $495.85.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. The trade was a 69.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.2%

VRTX opened at $457.36 on Friday. The stock’s fifty day moving average is $420.74 and its two-hundred day moving average is $425.42. The company has a market capitalization of $116.04 billion, a P/E ratio of 32.25 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.38 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.