Portfolio Design Labs LLC Grows Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Portfolio Design Labs LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 55.6% in the fourth quarter, Holdings Channel reports. The fund owned 7,126 shares of the pharmaceutical company’s stock after buying an additional 2,547 shares during the quarter. Portfolio Design Labs LLC’s holdings in Vertex Pharmaceuticals were worth $2,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank boosted its stake in shares of Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after buying an additional 3,260 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at approximately $662,000. Concord Wealth Partners boosted its stake in shares of Vertex Pharmaceuticals by 32.6% during the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after buying an additional 862 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after buying an additional 57,497 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Vertex Pharmaceuticals by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after buying an additional 55,739 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 3.1 %

Shares of NASDAQ VRTX opened at $455.22 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm’s 50-day simple moving average is $435.95 and its 200 day simple moving average is $462.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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 analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $402.00 to $407.00 and gave the company a “sector perform” rating in a research note on Tuesday. Citigroup began coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Ten equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $505.29.

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.