NewEdge Wealth LLC Has $16.69 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NewEdge Wealth LLC raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 41,447 shares of the pharmaceutical company’s stock after buying an additional 1,297 shares during the period. NewEdge Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $16,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Edgewood Management LLC boosted its position in shares of Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares during the last quarter. WCM Investment Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter valued at $435,899,000. Jennison Associates LLC boosted its holdings in Vertex Pharmaceuticals by 18.1% during the 3rd 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. Wellington Management Group LLP boosted its holdings in Vertex Pharmaceuticals by 17.2% during the 3rd 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. Finally, Assenagon Asset Management S.A. grew its stake in shares of Vertex Pharmaceuticals by 169.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock worth $338,136,000 after acquiring an additional 528,029 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $479.10 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market cap of $123.03 billion, a PE ratio of -217.77, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The stock has a fifty day moving average of $437.18 and a 200-day moving average of $460.90.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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 4.86% and a negative return on equity of 2.02%. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their target price for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Barclays upped their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

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.