Telos Capital Management Inc. Increases Stake in Vertex Pharmaceuticals Incorporated $VRTX

Telos Capital Management Inc. grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,242 shares of the pharmaceutical company’s stock after buying an additional 1,068 shares during the quarter. Telos Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $8,567,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in VRTX. Brighton Jones LLC raised its position in shares of Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after acquiring an additional 25 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of Vertex Pharmaceuticals by 1.1% during the 1st quarter. Impax Asset Management Group plc now owns 6,999 shares of the pharmaceutical company’s stock worth $3,393,000 after acquiring an additional 75 shares in the last quarter. Truist Financial Corp raised its position in shares of Vertex Pharmaceuticals by 5.7% during the 1st quarter. Truist Financial Corp now owns 223,970 shares of the pharmaceutical company’s stock worth $108,585,000 after acquiring an additional 12,166 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $111,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 1.4%

Vertex Pharmaceuticals stock opened at $425.57 on Monday. The stock has a fifty day moving average price of $401.71 and a 200 day moving average price of $431.57. The firm has a market capitalization of $109.11 billion, a P/E ratio of 30.42 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its 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 the consensus estimate of $2.90 billion. During the same period last year, the business posted ($12.83) EPS. The company’s revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VRTX shares. Citigroup raised their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Wall Street Zen lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. Finally, Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $492.10.

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.