Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,535 shares of the pharmaceutical company’s stock after purchasing an additional 219 shares during the quarter. Vertex Pharmaceuticals comprises about 1.3% of Trifecta Capital Advisors LLC’s holdings, making the stock its 22nd largest holding. Trifecta Capital Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $6,295,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $31,000. Founders Capital Management increased its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the first quarter worth about $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $498.73 on Friday. The business has a 50-day simple moving average of $474.92 and a 200-day simple moving average of $459.08. The company has a market cap of $128.72 billion, a PE ratio of -245.68 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $3.53 EPS. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,487 shares of company stock valued at $14,657,149 over the last quarter. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Guggenheim upped their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, Piper Sandler raised their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $492.92.

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.