Fidelis Capital Partners LLC Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fidelis Capital Partners LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 77.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,180 shares of the pharmaceutical company’s stock after purchasing an additional 2,257 shares during the period. Fidelis Capital Partners LLC’s holdings in Vertex Pharmaceuticals were worth $2,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $27,000. ICA Group Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $28,000. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Finally, Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Piper Sandler lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer boosted their target price on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial reiterated a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $486.36.

Vertex Pharmaceuticals Stock Down 2.7 %

Shares of NASDAQ:VRTX opened at $464.92 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The firm’s 50 day moving average price is $482.66 and its 200 day moving average price is $452.12. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The stock has a market cap of $119.97 billion, a price-to-earnings ratio of 30.17 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.53 earnings per share. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value 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 approximately $20,320,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,047 shares of company stock worth $16,843,806. 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.