AlphaCentric Advisors LLC Invests $1.25 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

AlphaCentric Advisors LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,101 shares of the pharmaceutical company’s stock, valued at approximately $1,249,000. Vertex Pharmaceuticals makes up about 1.2% of AlphaCentric Advisors LLC’s holdings, making the stock its 21st biggest holding.

Other large investors have also modified their holdings of the company. Czech National Bank grew its holdings in shares of Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after purchasing an additional 3,260 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $662,000. Concord Wealth Partners grew its holdings in shares of Vertex Pharmaceuticals by 32.6% in the fourth quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after purchasing an additional 862 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Vertex Pharmaceuticals by 289.0% in the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after purchasing an additional 57,497 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Vertex Pharmaceuticals by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after purchasing an additional 55,739 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VRTX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a research report on Thursday, January 30th. Bank of America decreased their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $505.57.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $459.00 on Monday. The firm’s 50 day moving average price is $435.69 and its 200 day moving average price is $461.24. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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 net margin of 4.52% and a negative return on equity of 1.91%. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal 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.