Dakota Wealth Management Has $2.98 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Dakota Wealth Management reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 78.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,408 shares of the pharmaceutical company’s stock after selling 26,985 shares during the quarter. Dakota Wealth Management’s holdings in Vertex Pharmaceuticals were worth $2,983,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Czech National Bank increased its stake in Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $662,000. Creative Planning raised its holdings in shares of Vertex Pharmaceuticals by 5.3% during the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after buying an additional 57,497 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Vertex Pharmaceuticals by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after buying an additional 55,739 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $428.00 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The stock’s 50 day moving average price is $438.10 and its two-hundred day moving average price is $465.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned $3.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research reports. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, December 20th. BMO Capital Markets lowered their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, Barclays lowered their target price on Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.38.

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.