Trifecta Capital Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,745 shares of the pharmaceutical company’s stock, valued at approximately $8,318,000. Vertex Pharmaceuticals accounts for 1.1% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest position.
A number of other institutional investors and hedge funds have also bought and sold shares of VRTX. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 4.6% during the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after buying an additional 763,063 shares in the last quarter. State Street Corp raised its holdings in shares of Vertex Pharmaceuticals by 0.7% in the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock valued at $5,299,569,000 after acquiring an additional 83,539 shares in the last quarter. Capital International Investors lifted its stake in Vertex Pharmaceuticals by 0.9% in the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after acquiring an additional 44,537 shares during the period. Victory Capital Management Inc. lifted its stake in Vertex Pharmaceuticals by 49.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after acquiring an additional 1,109,200 shares during the period. Finally, Norges Bank bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $1,440,149,000. 90.96% of the stock is owned by institutional investors.
Insider Transactions at Vertex Pharmaceuticals
In other news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares of the company’s stock, valued at $5,709,519. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 10,464 shares of company stock valued at $4,959,397. Corporate insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Down 2.1%
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.52 EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have commented on VRTX shares. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 4th. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. TD Cowen upped their target price on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Barclays increased their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $563.50.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
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