Trivium Point Advisory LLC Lowers Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Trivium Point Advisory LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,964 shares of the pharmaceutical company’s stock after selling 305 shares during the quarter. Trivium Point Advisory LLC’s holdings in Vertex Pharmaceuticals were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Quent Capital LLC boosted its position in shares of Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company’s stock valued at $249,000 after acquiring an additional 22 shares during the last quarter. Advisor OS LLC boosted its stake in Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock worth $263,000 after buying an additional 23 shares during the period. Sculati Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company’s stock worth $1,029,000 after purchasing an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock worth $594,000 after purchasing an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its position in shares of Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 2.1%

Shares of Vertex Pharmaceuticals stock opened at $395.92 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The business’s fifty day simple moving average is $447.18 and its 200-day simple moving average is $464.48. The firm has a market cap of $101.51 billion, a PE ratio of 28.30 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the company posted ($12.83) EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Cantor Fitzgerald cut their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. Morgan Stanley set a $439.00 price target on Vertex Pharmaceuticals and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. HC Wainwright decreased their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Finally, Leerink Partnrs downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $497.10.

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.