Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Washington Growth Strategies LLC

Washington Growth Strategies LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 105.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 998 shares of the pharmaceutical company’s stock after purchasing an additional 513 shares during the period. Washington Growth Strategies LLC’s holdings in Vertex Pharmaceuticals were worth $444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals during the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the 1st quarter worth $32,000. American National Bank & Trust grew its stake in Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 67 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after purchasing an additional 30 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $403.30 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The company has a market capitalization of $103.40 billion, a P/E ratio of 28.83 and a beta of 0.43. The stock has a 50-day simple moving average of $399.12 and a 200-day simple moving average of $442.98.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating 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 business 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 business earned ($12.83) EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a “market perform” rating for the company. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $439.00 price target on Vertex Pharmaceuticals and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $493.81.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate 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.