Mesirow Financial Investment Management Inc. Cuts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mesirow Financial Investment Management Inc. cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 42.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 568 shares of the pharmaceutical company’s stock after selling 412 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Vertex Pharmaceuticals were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Edgestream Partners L.P. boosted its stake in Vertex Pharmaceuticals by 165.3% in the fourth quarter. Edgestream Partners L.P. now owns 5,842 shares of the pharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 3,640 shares during the last quarter. Destination Wealth Management boosted its stake in Vertex Pharmaceuticals by 5.0% in the fourth quarter. Destination Wealth Management now owns 3,529 shares of the pharmaceutical company’s stock valued at $1,421,000 after acquiring an additional 168 shares during the last quarter. Draper Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Draper Asset Management LLC now owns 6,333 shares of the pharmaceutical company’s stock valued at $2,601,000 after acquiring an additional 33 shares during the last quarter. Callan Family Office LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $987,000. Finally, Hartford Funds Management Co LLC boosted its stake in Vertex Pharmaceuticals by 4.3% in the fourth quarter. Hartford Funds Management Co LLC now owns 1,121 shares of the pharmaceutical company’s stock valued at $451,000 after acquiring an additional 46 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 1,084 shares of company stock valued at $505,512. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on VRTX shares. HC Wainwright reiterated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. 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. Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Eleven 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’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $488.29 on Monday. The company’s fifty day moving average price is $448.27 and its 200-day moving average price is $461.15. The firm has a market capitalization of $125.39 billion, a price-to-earnings ratio of -221.95, a PEG ratio of 2.11 and a beta of 0.41. 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 current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.