Telos Capital Management Inc. Has $8.30 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Telos Capital Management Inc. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,188 shares of the pharmaceutical company’s stock after acquiring an additional 1,946 shares during the quarter. Telos Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $8,298,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC increased its position in Vertex Pharmaceuticals by 3.6% in the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after buying an additional 24 shares during the period. Kovack Advisors Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.9% in the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock worth $570,000 after acquiring an additional 24 shares during the last quarter. Eastern Bank increased its position in Vertex Pharmaceuticals by 1.6% during the second quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock worth $728,000 after acquiring an additional 25 shares during the period. Washington Trust Advisors Inc. increased its position in Vertex Pharmaceuticals by 8.4% during the second quarter. Washington Trust Advisors Inc. now owns 323 shares of the pharmaceutical company’s stock worth $144,000 after acquiring an additional 25 shares during the period. Finally, Signature Wealth Management Group raised its stake in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Signature Wealth Management Group now owns 4,244 shares of the pharmaceutical company’s stock valued at $1,889,000 after purchasing an additional 26 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

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

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Leerink Partners raised their price target on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 12th. Evercore ISI boosted their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Wells Fargo & Company upped their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Finally, Barclays raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $414.00 to $606.00 in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $522.68.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $17,202,600. The trade was a 27.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. This trade represents a 72.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 165,105 shares of company stock worth $73,858,523 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.