TFR Capital LLC. Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• TFR Capital acquired 5,074 Vertex Pharmaceuticals shares worth approximately $2.52 million in the second quarter. Institutional investors collectively own 90.96% of Vertex’s stock.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above estimates, while earnings per share of $4.73 narrowly missed expectations by $0.01.
• Wall Street remains positive, with a consensus “Moderate Buy” rating and an average price target of $563.50, despite shares trading down 2.1% and recent insider sales conducted under pre-arranged trading plans.

TFR Capital LLC. bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,074 shares of the pharmaceutical company's stock, valued at approximately $2,520,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Motiv8 Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $26,000. Community Financial Services Group LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter valued at about $26,000. Elevation Wealth Partners LLC boosted its holdings in Vertex Pharmaceuticals by 103.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 28 shares during the last quarter. Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $28,000. Finally, IMG Wealth Management Inc. increased its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 2.1%

Shares of NASDAQ VRTX opened at $505.75 on Friday. The stock has a market cap of $128.36 billion, a PE ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $546.17. The company has a 50-day moving average of $483.26 and a 200 day moving average of $463.76.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The business 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% compared to the same quarter last year. During the same period last year, the business earned $4.52 earnings per share. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This trade represents a 3.20% 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. Over the last 90 days, insiders sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VRTX shares. Truist Financial increased their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. TD Cowen lifted their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Royal Bank Of Canada boosted their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Sanford C. Bernstein raised Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus set a $500.00 price objective on Vertex Pharmaceuticals in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $563.50.

About Vertex Pharmaceuticals

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.

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