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

Truist Financial Corp boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.7% during the first quarter, according to its most recent disclosure with the 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 about 0.09% of Vertex Pharmaceuticals worth $108,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Truvestments Capital LLC grew its position in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $44,000. Finally, Prestige Wealth Management Group LLC grew its position in Vertex Pharmaceuticals by 45.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock worth $45,000 after acquiring an additional 35 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 2.4%

Shares of NASDAQ VRTX traded up $10.99 during mid-day trading on Wednesday, hitting $477.35. The company's stock had a trading volume of 688,851 shares, compared to its average volume of 1,421,305. The stock has a market cap of $122.58 billion, a price-to-earnings ratio of -121.77 and a beta of 0.41. 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 Incorporated has a one year low of $377.85 and a one year high of $519.88. The company's fifty day simple moving average is $449.35 and its 200-day simple moving average is $459.33.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the business earned $4.76 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of analyst reports. Royal Bank Of Canada set a $420.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "sector perform" rating in a research note on Tuesday, June 17th. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $535.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Bank of America increased their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Finally, Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $511.62.

Vertex Pharmaceuticals 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.