Trivium Point Advisory LLC Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Trivium Point Advisory initiated a 2,199-share position in Vertex Pharmaceuticals during the second quarter, valued at approximately $1.09 million. Institutional investors collectively own 90.96% of the company.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above analyst expectations, while adjusted EPS of $4.73 narrowly missed estimates. The stock opened at $505.75, with a market capitalization of about $128.36 billion.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $563.50. Recent targets range from $442 to $616, while insiders sold $4.96 million of stock over the past 90 days.

Trivium Point Advisory LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,199 shares of the pharmaceutical company's stock, valued at approximately $1,092,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBK Sorce Advisory LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $444,000. Tillman Hartley LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $252,000. Arrowroot Family Office LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $223,000. Nippon Life Global Investors Americas Inc. purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $18,990,000. Finally, Flputnam Investment Management Co. bought a new stake in shares of Vertex Pharmaceuticals in the second quarter worth about $19,927,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $505.75 on Monday. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $546.17. The firm's 50-day moving average price is $483.26 and its 200-day moving average price is $463.67. The stock has a market capitalization of $128.36 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30.

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

Insider Activity

In other 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 value of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. The trade was a 12.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. This represents a 3.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock valued at $4,959,397 in the last ninety days. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings upgraded Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a research note on Tuesday, August 4th. Cantor Fitzgerald upped their price objective on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Finally, Morgan Stanley increased their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $563.50.

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.

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