Trifecta Capital Advisors LLC Purchases Shares of 16,745 Vertex Pharmaceuticals Incorporated $VRTX

Trifecta Capital Advisors LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 16,745 shares of the pharmaceutical company’s stock, valued at approximately $8,318,000. Vertex Pharmaceuticals makes up about 1.1% of Trifecta Capital Advisors LLC’s holdings, making the stock its 27th largest position.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its position in shares of Vertex Pharmaceuticals by 4.6% in the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after acquiring an additional 763,063 shares during the period. State Street Corp grew its stake in Vertex Pharmaceuticals by 0.7% during the 4th quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock valued at $5,299,569,000 after purchasing an additional 83,539 shares during the last quarter. Capital International Investors grew its stake in Vertex Pharmaceuticals by 0.9% during the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock valued at $2,146,041,000 after purchasing an additional 44,537 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of 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 valued at $1,521,851,000 after purchasing an additional 1,109,200 shares during the period. Finally, Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $1,440,149,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRTX. Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. 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 research note on Tuesday, May 5th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $563.50.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 in the last three months. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.1%

Shares of VRTX stock opened at $505.75 on Friday. The stock has a 50 day moving average of $483.26 and a 200 day moving average of $463.76. The stock has a market cap of $128.36 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.14 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $546.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.52 EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

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.