PDT Partners LLC Buys New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

PDT Partners LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,803 shares of the pharmaceutical company's stock, valued at approximately $3,948,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC lifted its holdings in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the period. Simon Quick Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals by 1.1% during the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock valued at $900,000 after acquiring an additional 24 shares in the last quarter. Spinnaker Trust lifted its stake in Vertex Pharmaceuticals by 2.1% in the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after acquiring an additional 25 shares during the period. Strategic Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in Vertex Pharmaceuticals by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded down $10.64 on Thursday, hitting $498.86. 1,451,943 shares of the company's stock were exchanged, compared to its average volume of 1,340,291. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a 50-day simple moving average of $491.59 and a 200-day simple moving average of $467.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market capitalization of $128.25 billion, a PE ratio of -226.75, a PEG ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 4.86% and a negative return on equity of 2.02%. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VRTX shares. Scotiabank raised their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Bank of America increased their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Ten 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 stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $514.91.

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.