Truist Financial Corp Purchases 12,166 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Truist Financial Corp increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,970 shares of the pharmaceutical company's stock after purchasing an additional 12,166 shares during the period. Truist Financial Corp owned 0.09% of Vertex Pharmaceuticals worth $108,585,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $31,000. Truvestments Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after buying an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $44,000. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after buying an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.5%

NASDAQ:VRTX traded up $6.95 during trading hours on Tuesday, reaching $466.36. The company's stock had a trading volume of 1,103,805 shares, compared to its average volume of 1,422,813. The company has a market cap of $119.76 billion, a price-to-earnings ratio of -118.97 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The business's 50-day moving average is $450.09 and its 200-day moving average is $459.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.65 and a quick ratio of 2.29.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.76 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 target price on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $511.62.

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.