Truist Financial Corp Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Truist Financial Corp raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,804 shares of the pharmaceutical company’s stock after buying an additional 1,885 shares during the period. Truist Financial Corp owned about 0.08% of Vertex Pharmaceuticals worth $85,293,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Dunhill Financial LLC raised its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $33,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth $30,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. BMO Capital Markets lowered their target price on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $505.57.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $459.00 on Tuesday. The firm’s 50-day moving average is $435.69 and its two-hundred day moving average is $460.99. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal 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.