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

Edgestream Partners L.P. raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 769.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,415 shares of the pharmaceutical company’s stock after buying an additional 5,677 shares during the quarter. Edgestream Partners L.P.’s holdings in Vertex Pharmaceuticals were worth $2,856,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VRTX. 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% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 45 shares during the last quarter. Access Investment Management LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Flaharty Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the first quarter worth $32,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the sale, the chairman directly owned 24,026 shares of the company’s stock, valued at approximately $10,588,738.72. This trade represents a 69.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.2%

Shares of NASDAQ:VRTX opened at $457.36 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The company’s 50 day moving average is $420.74 and its 200 day moving average is $425.42. The company has a market cap of $116.04 billion, a PE ratio of 32.25 and a beta of 0.32.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Evercore ISI decreased 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. Raymond James Financial began coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating for the company. Morgan Stanley raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $438.00 to $516.00 in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Finally, Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $495.85.

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.