Truvestments Capital LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Truvestments Capital LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, Holdings Channel reports. The firm acquired 76 shares of the pharmaceutical company’s stock, valued at approximately $35,000.

A number of other institutional investors also recently added to or reduced their stakes in VRTX. Whalen Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $662,000. Creative Planning boosted its stake in Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC grew its position in Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares during the last quarter. Blue Trust Inc. increased its stake in Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $74,213,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VRTX. Guggenheim increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $472.00 to $509.00 in a report on Monday, August 5th. Piper Sandler boosted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Finally, Truist Financial reiterated a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $504.38.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:VRTX opened at $464.56 on Thursday. Vertex Pharmaceuticals Incorporated has a 1-year low of $346.29 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market cap of $119.64 billion, a P/E ratio of -233.45 and a beta of 0.39. The firm has a fifty day moving average price of $473.08 and a 200 day moving average price of $474.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $3.67 earnings per share. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % 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. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,445 shares of company stock worth $2,218,394. 0.20% of the stock is currently owned by insiders.

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.