950 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by MQS Management LLC

MQS Management LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 950 shares of the pharmaceutical company’s stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors also recently modified their holdings of VRTX. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd raised its position 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 buying an additional 45 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth $32,000. American National Bank & Trust boosted its holdings in shares of 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 acquiring an additional 67 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $46,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent analyst reports. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada reduced their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $494.38.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $421.39 on Monday. The company’s 50 day simple moving average is $398.96 and its 200-day simple moving average is $434.28. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a market capitalization of $108.04 billion, a PE ratio of 30.12 and a beta of 0.43.

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

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.