Portfolio Design Labs LLC Has $2.13 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Portfolio Design Labs LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 123.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,579 shares of the pharmaceutical company's stock after acquiring an additional 2,526 shares during the period. Portfolio Design Labs LLC's holdings in Vertex Pharmaceuticals were worth $2,130,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $31,000. Finally, Founders Capital Management grew its holdings in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company's stock worth $35,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded up $3.22 during trading hours on Wednesday, hitting $451.23. The stock had a trading volume of 1,642,925 shares, compared to its average volume of 1,185,861. Vertex Pharmaceuticals Incorporated has a 1-year low of $346.29 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock's fifty day simple moving average is $475.85 and its 200 day simple moving average is $472.89.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts' consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period last year, the firm posted $3.67 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,445 shares of company stock valued at $2,218,394 in the last quarter. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VRTX shares. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Raymond James restated a "market perform" rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, HC Wainwright reiterated a "buy" rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $499.12.

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.