Telos Capital Management Inc. Acquires 1,946 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Telos Capital Management Inc. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.1% during the third quarter, Holdings Channel reports. The fund owned 21,188 shares of the pharmaceutical company’s stock after acquiring an additional 1,946 shares during the period. Telos Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $8,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chesapeake Asset Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Access Investment Management LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth $27,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Total Investment Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $33,000. Finally, Financial Network Wealth Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $465.61 on Wednesday. The firm has a market capitalization of $118.13 billion, a price-to-earnings ratio of 32.84 and a beta of 0.30. The company’s 50 day simple moving average is $455.45 and its 200 day simple moving average is $427.09. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.38 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on VRTX. UBS Group upped their price target on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Barclays upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $414.00 to $606.00 in a research report on Tuesday, January 27th. Wolfe Research raised shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price target on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $522.68.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president directly owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,391,225. This trade represents a 20.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 165,105 shares of company stock worth $73,858,523 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.