Mirabella Financial Services LLP Acquires New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mirabella Financial Services LLP purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 11,184 shares of the pharmaceutical company’s stock, valued at approximately $4,501,000.

Several other institutional investors have also modified their holdings of VRTX. Norges Bank acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth $1,374,948,000. Parnassus Investments LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $731,283,000. Capital World Investors grew its holdings in Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after acquiring an additional 1,514,993 shares in the last quarter. Capital Research Global Investors increased its position in shares of Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after purchasing an additional 1,426,746 shares during the last quarter. Finally, Edgewood Management LLC lifted its position in shares of Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock worth $1,190,626,000 after purchasing an additional 1,410,238 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ourania Tatsis sold 530 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Bank of America upped their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a report on Monday, March 31st. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $512.41.

Vertex Pharmaceuticals Stock Up 0.7 %

VRTX stock opened at $489.10 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. 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 company has a fifty day moving average of $486.76 and a 200-day moving average of $465.23. The stock has a market capitalization of $125.60 billion, a PE ratio of -222.32, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.