4,352 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners LLC has acquired a new position in Vertex Pharmaceuticals, purchasing 4,352 shares valued at approximately $1,938,000 during the 2nd quarter.
• Vertex Pharmaceuticals reported a quarterly earnings of $4.52 per share, exceeding analysts' expectations, with a revenue of $2.94 billion and a year-over-year increase of 11.3%.
• Institutional investors and hedge funds now own 90.96% of Vertex Pharmaceuticals' stock, reflecting increased interest and investment in the company.

Harrell Investment Partners LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,352 shares of the pharmaceutical company's stock, valued at approximately $1,938,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRTX. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals during the 1st quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd lifted 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 in the last quarter. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $31,000. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $32,000. Finally, SJS Investment Consulting Inc. lifted its position in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the 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 purchase, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $376.62 on Thursday. The company has a market capitalization of $96.56 billion, a price-to-earnings ratio of 26.92 and a beta of 0.44. The firm's 50 day simple moving average is $409.11 and its 200 day simple moving average is $448.13. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88.

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

Analyst Ratings Changes

A number of research analysts have issued reports on VRTX shares. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price on the stock in a research report on Wednesday, August 6th. Cantor Fitzgerald cut their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $496.05.

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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