Edgemoor Investment Advisors Inc. Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Edgemoor Investment Advisors Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,097 shares of the pharmaceutical company’s stock after buying an additional 92 shares during the period. Vertex Pharmaceuticals makes up about 2.0% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 14th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $22,993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $731,283,000. Edgewood Management LLC lifted its holdings in Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after acquiring an additional 1,526,983 shares during the last quarter. WCM Investment Management LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth about $435,899,000. Jennison Associates LLC lifted its holdings in Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after acquiring an additional 704,421 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRTX. Barclays raised their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Bank of America cut their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research note on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.4 %

NASDAQ VRTX opened at $504.77 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 debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market cap of $129.62 billion, a price-to-earnings ratio of -229.44, a PEG ratio of 2.11 and a beta of 0.41. The firm’s 50 day moving average price is $457.74 and its two-hundred day moving average price is $461.70.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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%. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.