Trifecta Capital Advisors LLC Buys 802 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Trifecta Capital Advisors LLC increased its ownership in Vertex Pharmaceuticals by 5.5%, now holding a total of 15,340 shares valued at approximately $6.83 million.
• Vertex Pharmaceuticals has seen significant activity from other institutional investors as well, with firms like Vanguard Group and Price T Rowe Associates making substantial purchases.
• Recent analyst ratings for Vertex Pharmaceuticals indicate a consensus rating of "Moderate Buy" with an average price target of $494.43, despite some ratings being downgraded.

Trifecta Capital Advisors LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,340 shares of the pharmaceutical company's stock after buying an additional 802 shares during the period. Trifecta Capital Advisors LLC's holdings in Vertex Pharmaceuticals were worth $6,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Vertex Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after buying an additional 232,873 shares during the period. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after buying an additional 744,680 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Vertex Pharmaceuticals by 0.9% in the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock valued at $1,916,742,000 after buying an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Vertex Pharmaceuticals by 72.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock valued at $1,414,331,000 after buying an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Vertex Pharmaceuticals by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock worth $1,240,885,000 after purchasing an additional 230,257 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Citigroup upped their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of Vertex Pharmaceuticals in a research note on Wednesday. Finally, Cantor Fitzgerald cut their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. One 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 stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $494.43.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $421.15 on Thursday. The company has a fifty day moving average of $395.83 and a 200-day moving average of $440.97. The company has a market capitalization of $107.98 billion, a PE ratio of 30.10 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 - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.

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