AlphaCentric Advisors LLC Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

AlphaCentric Advisors LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth $25,000. Dunhill Financial LLC boosted its stake in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares during the period. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth $27,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Finally, Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth $30,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on VRTX shares. Piper Sandler dropped their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. StockNews.com lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Wednesday. Scotiabank boosted their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $505.61.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.8 %

Shares of VRTX traded up $8.57 during mid-day trading on Thursday, hitting $480.33. 1,574,322 shares of the company traded hands, compared to its average volume of 1,544,167. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $123.34 billion, a PE ratio of -218.33, a price-to-earnings-growth ratio of 2.03 and a beta of 0.41. The business has a 50 day moving average of $435.32 and a 200 day moving average of $460.52.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current year.

Vertex Pharmaceuticals Company 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.