Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Raised by Trust Point Inc.

Trust Point Inc. lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116 shares of the pharmaceutical company’s stock after purchasing an additional 37 shares during the quarter. Trust Point Inc.’s holdings in Vertex Pharmaceuticals were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in VRTX. Brookstone Capital Management grew its stake in shares of Vertex Pharmaceuticals by 11.1% in the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after buying an additional 237 shares in the last quarter. Creative Planning grew its holdings in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares during the last quarter. Blue Trust Inc. raised its position in shares of Vertex Pharmaceuticals by 640.0% in the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth $74,213,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $21,008,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,487 shares of company stock worth $14,657,149 in the last quarter. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Down 3.2 %

Shares of NASDAQ:VRTX opened at $483.00 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm has a market cap of $124.64 billion, a P/E ratio of 31.34 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The company’s 50-day moving average price is $475.21 and its two-hundred day moving average price is $459.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $3.53 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRTX. Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $492.92.

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.