Trivium Point Advisory LLC Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Trivium Point Advisory LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,199 shares of the pharmaceutical company’s stock, valued at approximately $1,092,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at $1,440,149,000. Bank of New York Mellon Corp purchased a new stake in Vertex Pharmaceuticals in the second quarter worth $830,842,000. Victory Capital Management Inc. increased its stake in Vertex Pharmaceuticals by 49.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares during the period. Capital Research Global Investors lifted its position in shares of Vertex Pharmaceuticals by 4.6% during the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after purchasing an additional 763,063 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $166,317,000. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $563.50.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $505.75 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $546.17. The stock has a market capitalization of $128.36 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30. The stock has a fifty day simple moving average of $483.26 and a two-hundred day simple moving average of $463.67.

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

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing 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, CMO Carmen Bozic sold 596 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at $7,400,102.50. This trade represents a 3.74% 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 over the last three months. 0.20% of the stock is owned by company insiders.

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.