Centurion Wealth Management LLC Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Centurion Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, HoldingsChannel reports. The firm acquired 501 shares of the pharmaceutical company’s stock, valued at approximately $223,000.

Several other institutional investors have also added to or reduced their stakes in the stock. TrueWealth Advisors LLC boosted its stake in Vertex Pharmaceuticals by 12.4% in the 2nd quarter. TrueWealth Advisors LLC now owns 1,223 shares of the pharmaceutical company’s stock worth $544,000 after purchasing an additional 135 shares during the period. Sage Capital Advisors llc boosted its position in shares of Vertex Pharmaceuticals by 19.0% during the second quarter. Sage Capital Advisors llc now owns 715 shares of the pharmaceutical company’s stock worth $318,000 after buying an additional 114 shares during the period. LVM Capital Management Ltd. MI grew its holdings in shares of Vertex Pharmaceuticals by 0.5% during the second quarter. LVM Capital Management Ltd. MI now owns 30,070 shares of the pharmaceutical company’s stock worth $13,387,000 after buying an additional 157 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Vertex Pharmaceuticals by 2.5% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,559 shares of the pharmaceutical company’s stock valued at $2,475,000 after buying an additional 134 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at approximately $4,244,000. 90.96% of the stock is owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

VRTX has been the subject of several recent research reports. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Evercore ISI decreased their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Guggenheim decreased their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $496.05.

Vertex Pharmaceuticals Trading Down 0.7%

Shares of VRTX opened at $394.53 on Monday. The company has a market cap of $101.15 billion, a price-to-earnings ratio of 28.20 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company’s fifty day simple moving average is $422.66 and its 200 day simple moving average is $453.23.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the company earned ($12.83) earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals 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.