TFR Capital LLC. Invests $2.52 Million in Vertex Pharmaceuticals Incorporated $VRTX

TFR Capital LLC. purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 5,074 shares of the pharmaceutical company’s stock, valued at approximately $2,520,000.

A number of other large investors have also recently added to or reduced their stakes in VRTX. Community Financial Services Group LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter worth $26,000. Motiv8 Investments LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $26,000. Elevation Wealth Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 103.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. Swiss RE Ltd. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $28,000. Finally, IMG Wealth Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 2.1%

Shares of NASDAQ VRTX opened at $505.75 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $546.17. The stock has a fifty day simple moving average of $483.26 and a 200-day simple moving average of $463.76. The stock has a market capitalization of $128.36 billion, a PE ratio of 29.44, a PEG ratio of 2.09 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the company posted $4.52 EPS. Vertex Pharmaceuticals’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the sale, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock valued at $4,959,397 in the last three months. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VRTX. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Truist Financial lifted their price target on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen boosted their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Cantor Fitzgerald upped their price objective on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $563.50.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.