Torray Investment Partners LLC Grows Position in Vertex Pharmaceuticals Incorporated $VRTX

Torray Investment Partners LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,879 shares of the pharmaceutical company’s stock after buying an additional 1,158 shares during the period. Torray Investment Partners LLC’s holdings in Vertex Pharmaceuticals were worth $7,515,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Telos Capital Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 5.9% during the second quarter. Telos Capital Management Inc. now owns 19,242 shares of the pharmaceutical company’s stock valued at $8,567,000 after buying an additional 1,068 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. State of Michigan Retirement System now owns 72,523 shares of the pharmaceutical company’s stock valued at $32,287,000 after buying an additional 400 shares during the last quarter. Tredje AP fonden boosted its position in Vertex Pharmaceuticals by 504.0% in the second quarter. Tredje AP fonden now owns 250,602 shares of the pharmaceutical company’s stock worth $111,568,000 after purchasing an additional 209,112 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Vertex Pharmaceuticals by 65.8% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,270 shares of the pharmaceutical company’s stock worth $565,000 after purchasing an additional 504 shares during the last quarter. Finally, Welch & Forbes LLC boosted its position in Vertex Pharmaceuticals by 4.6% in the second quarter. Welch & Forbes LLC now owns 217,244 shares of the pharmaceutical company’s stock worth $96,717,000 after purchasing an additional 9,605 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. raised their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a research report on Wednesday, August 6th. Royal Bank Of Canada dropped their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $492.10.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals 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 bought 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 of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.4%

VRTX stock opened at $425.57 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The stock has a market cap of $109.11 billion, a P/E ratio of 30.42 and a beta of 0.43. The business’s 50-day moving average price is $401.71 and its 200-day moving average price is $431.57.

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

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.