Avanza Fonder AB Acquires 1,405 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Avanza Fonder AB increased its stake in Vertex Pharmaceuticals by 5.8%, acquiring an additional 1,405 shares, bringing its total holdings to 25,425 shares valued at $11.3 million.
• Vertex Pharmaceuticals reported robust quarterly earnings, with a profit of $4.52 per share, exceeding estimates and showcasing 11.3% year-over-year revenue growth.
• Various institutions, including United Services Automobile Association and Andrew Hill Investment Advisors Inc., have recently engaged in buying and selling shares, indicating strong institutional interest in Vertex Pharmaceuticals.

Avanza Fonder AB lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,425 shares of the pharmaceutical company's stock after buying an additional 1,405 shares during the quarter. Avanza Fonder AB's holdings in Vertex Pharmaceuticals were worth $11,319,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VRTX. United Services Automobile Association bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $2,933,000. Aries Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $293,000. New England Research & Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $472,000. Paladin Wealth LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $552,000. Finally, Andrew Hill Investment Advisors Inc. raised its stake in shares of Vertex Pharmaceuticals by 21.8% during the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 8,003 shares of the pharmaceutical company's stock valued at $3,563,000 after buying an additional 1,430 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ VRTX opened at $383.12 on Friday. The stock has a fifty day moving average price of $414.44 and a 200 day moving average price of $450.09. The company has a market cap of $98.23 billion, a P/E ratio of 27.39 and a beta of 0.44. 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 announced its quarterly earnings data 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 firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned ($12.83) earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VRTX. Wall Street Zen lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Raymond James Financial began coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a "market perform" rating for the company. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target for the company in a research note on Wednesday, August 6th. Stifel Nicolaus cut their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $439.00 price target on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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