Truist Financial Corp Raises Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Truist Financial Corp raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 211,804 shares of the pharmaceutical company's stock after purchasing an additional 1,885 shares during the period. Truist Financial Corp owned approximately 0.08% of Vertex Pharmaceuticals worth $85,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VRTX. CIBC Asset Management Inc raised its position in Vertex Pharmaceuticals by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 84,491 shares of the pharmaceutical company's stock worth $34,025,000 after buying an additional 4,389 shares during the last quarter. Highview Capital Management LLC DE lifted its holdings in Vertex Pharmaceuticals by 1.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock valued at $2,324,000 after acquiring an additional 102 shares during the period. Sanctuary Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 2.2% during the 4th quarter. Sanctuary Advisors LLC now owns 43,831 shares of the pharmaceutical company's stock valued at $19,216,000 after purchasing an additional 928 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,249,000. Finally, Americana Partners LLC raised its position in Vertex Pharmaceuticals by 8.0% in the fourth quarter. Americana Partners LLC now owns 12,145 shares of the pharmaceutical company's stock worth $4,891,000 after acquiring an additional 897 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded up $3.91 during mid-day trading on Friday, hitting $484.24. 1,444,007 shares of the stock were exchanged, compared to its average volume of 1,541,286. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The company has a market cap of $124.35 billion, a PE ratio of -220.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a 50-day moving average of $436.05 and a two-hundred day moving average of $460.70.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.58 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of several analyst reports. Barclays lifted their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Oppenheimer cut Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Bank of America reduced their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $505.61.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Company Profile

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.