Apollon Wealth Management LLC Purchases 4,630 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Apollon Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 18.4%, acquiring an additional 4,630 shares for a total of 29,757 shares valued at approximately $13.25 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analyst estimates, with revenues of $2.94 billion, marking an increase of 11.3% year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for Vertex, with a consensus price target of approximately $494.38.

Apollon Wealth Management LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 29,757 shares of the pharmaceutical company's stock after purchasing an additional 4,630 shares during the period. Apollon Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $13,248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock worth $11,388,985,000 after purchasing an additional 232,873 shares in the last quarter. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares in the last quarter. Alliancebernstein L.P. grew its position in Vertex Pharmaceuticals by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after purchasing an additional 33,492 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock valued at $1,414,331,000 after acquiring an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Vertex Pharmaceuticals by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock valued at $1,240,885,000 after acquiring an additional 230,257 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 1.7%

VRTX opened at $407.79 on Friday. The company has a 50 day moving average of $393.91 and a 200 day moving average of $439.60. The company has a market cap of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion during 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 firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRTX shares. Morgan Stanley reduced their target price on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating for the company in a research report on Friday. 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. Royal Bank Of Canada reduced their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Guggenheim reduced their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a "market perform" rating for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $494.38.

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.

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