Laffer Tengler Investments Inc. Acquires 1,260 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Laffer Tengler Investments Inc. raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 43.8% during the 4th quarter, Holdings Channel reports. The fund owned 4,134 shares of the pharmaceutical company’s stock after purchasing an additional 1,260 shares during the period. Laffer Tengler Investments Inc.’s holdings in Vertex Pharmaceuticals were worth $1,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC boosted its position in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Simon Quick Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after buying an additional 24 shares during the last quarter. Spinnaker Trust boosted its holdings in shares of Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock valued at $497,000 after buying an additional 25 shares in the last quarter. Strategic Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock valued at $1,807,000 after buying an additional 25 shares in the last quarter. Finally, PDS Planning Inc grew its position in shares of Vertex Pharmaceuticals by 3.3% in the 3rd quarter. PDS Planning Inc now owns 842 shares of the pharmaceutical company’s stock worth $392,000 after buying an additional 27 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VRTX. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a research report on Thursday, January 30th. Barclays increased their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. UBS Group raised their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America reduced their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Eleven equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $506.70.

Vertex Pharmaceuticals Trading Up 0.6 %

NASDAQ VRTX opened at $486.22 on Wednesday. The company has a fifty day moving average of $443.51 and a 200 day moving average of $461.12. The company has a market capitalization of $124.86 billion, a PE ratio of -221.01, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,084 shares of company stock valued at $505,512. 0.20% of the stock is owned by company insiders.

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.