Trust Co. of Vermont bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 116 shares of the pharmaceutical company's stock, valued at approximately $33,000.

A number of other hedge funds have also modified their holdings of the business. Procyon Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 2.8% during the 2nd quarter. Procyon Advisors LLC now owns 1,366 shares of the pharmaceutical company's stock worth $385,000 after purchasing an additional 37 shares in the last quarter. Nkcfo LLC increased its stake in shares of Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Nkcfo LLC now owns 8,515 shares of the pharmaceutical company's stock worth $2,399,000 after purchasing an additional 40 shares in the last quarter. J2 Capital Management Inc grew its stake in Vertex Pharmaceuticals by 2.2% in the 1st quarter. J2 Capital Management Inc now owns 1,915 shares of the pharmaceutical company's stock worth $500,000 after acquiring an additional 41 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in Vertex Pharmaceuticals by 0.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 7,935 shares of the pharmaceutical company's stock worth $2,236,000 after acquiring an additional 42 shares during the period. Finally, Evoke Wealth LLC grew its stake in Vertex Pharmaceuticals by 32.8% in the 1st quarter. Evoke Wealth LLC now owns 174 shares of the pharmaceutical company's stock worth $45,000 after acquiring an additional 43 shares during the period. 91.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Argus lifted their target price on shares of Vertex Pharmaceuticals from $275.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 13th. Cantor Fitzgerald assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, July 12th. They issued an "overweight" rating and a $365.00 target price for the company. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $291.00 to $307.00 and gave the stock an "overweight" rating in a research note on Friday, August 5th. HC Wainwright lifted their target price on shares of Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 5th. Finally, Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $250.00 to $253.00 and gave the company an "equal weight" rating in a report on Monday, August 8th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $291.65.

Insiders Place Their Bets

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $289.54 on Monday. The company has a current ratio of 4.50, a quick ratio of 4.36 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $74.26 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.05 and a beta of 0.42. The firm's fifty day simple moving average is $287.25 and its 200 day simple moving average is $275.78. Vertex Pharmaceuticals Incorporated has a twelve month low of $176.36 and a twelve month high of $305.95.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The pharmaceutical company reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $3.05 by $0.20. Vertex Pharmaceuticals had a net margin of 38.26% and a return on equity of 31.22%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The firm's revenue was up 22.5% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 12.67 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

Further Reading

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