Cyrus J. Lawrence LLC Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cyrus J. Lawrence LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 93.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,488 shares of the pharmaceutical company’s stock after purchasing an additional 12,769 shares during the period. Vertex Pharmaceuticals makes up 2.5% of Cyrus J. Lawrence LLC’s portfolio, making the stock its 13th largest position. Cyrus J. Lawrence LLC’s holdings in Vertex Pharmaceuticals were worth $12,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $25,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth $27,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $31,000. Finally, ICA Group Wealth Management LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth $28,000. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $431.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday. TD Cowen upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Argus lifted their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $486.36.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s 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 completion of the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction 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 completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,047 shares of company stock worth $16,843,806. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $464.92 on Monday. The company has a market cap of $119.97 billion, a P/E ratio of 30.17 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The stock’s fifty day moving average price is $482.66 and its 200-day moving average price is $452.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $3.53 EPS. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

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.