Bryce Point Capital LLC Purchases 710 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Bryce Point Capital LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 57.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,956 shares of the pharmaceutical company’s stock after buying an additional 710 shares during the quarter. Bryce Point Capital LLC’s holdings in Vertex Pharmaceuticals were worth $871,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. Finally, American National Bank & Trust grew its stake in Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRTX. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a “market perform” rating on the stock. Finally, Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $492.10.

Vertex Pharmaceuticals Trading Up 0.1%

Shares of NASDAQ VRTX opened at $426.00 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock has a 50 day moving average of $402.45 and a 200-day moving average of $431.13. The company has a market capitalization of $109.22 billion, a P/E ratio of 30.45 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the company posted ($12.83) EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.