Portfolio Design Labs LLC Raises Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Portfolio Design Labs LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 55.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,126 shares of the pharmaceutical company’s stock after purchasing an additional 2,547 shares during the period. Portfolio Design Labs LLC’s holdings in Vertex Pharmaceuticals were worth $2,870,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. Dunhill Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $33,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America decreased their price objective 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. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays boosted their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.29.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $455.22 on Wednesday. The company has a 50-day moving average of $435.95 and a 200-day moving average of $462.13. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month 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 posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share 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.