2,440 Shares in Vertex Pharmaceuticals Incorporated $VRTX Acquired by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. acquired 2,440 shares of Vertex Pharmaceuticals, valued at about $1,085,000, representing increased interest from institutional investors in the company.
• Vertex Pharmaceuticals reported earnings of $4.52 EPS for the recent quarter, exceeding analysts' expectations and marking an 11.3% year-over-year revenue growth.
• Analyst ratings for Vertex show a consensus of "Moderate Buy", with a target price averaging $494.38, indicating strong investor confidence in the stock's potential performance.

Phoenix Financial Ltd. purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,440 shares of the pharmaceutical company's stock, valued at approximately $1,085,000.

Other institutional investors and hedge funds have also modified their holdings of the company. United Services Automobile Association acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $2,933,000. Lee Johnson Capital Management LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $721,000. SteelPeak Wealth LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $10,059,000. Moody Lynn & Lieberson LLC grew its holdings in Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company's stock valued at $25,856,000 after buying an additional 822 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $472,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.7%

VRTX stock opened at $426.27 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The stock's fifty day simple moving average is $397.13 and its 200-day simple moving average is $435.65. The stock has a market capitalization of $109.29 billion, a price-to-earnings ratio of 30.47 and a beta of 0.43.

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

Analyst Ratings Changes

A number of equities research analysts have commented on VRTX shares. Canaccord Genuity Group lowered their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Leerink Partners upgraded Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $458.00 to $456.00 in a report on Thursday, September 25th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $494.38.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

About Vertex Pharmaceuticals

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.

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