Belpointe Asset Management LLC Has $1.94 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Belpointe Asset Management LLC increased its stake in Vertex Pharmaceuticals by 228.0% during the first quarter, now holding shares valued at approximately $1.94 million.
• Visa Inc.'s Director, Bruce I. Sachs, purchased 5,000 shares of Vertex at an average price of $389.68 per share, increasing his total ownership to 45,000 shares.
• Several analysts have set new price targets for Vertex, with JPMorgan Chase raising its target from $515.00 to $517.00, indicating a generally positive outlook on the company's stock.

Belpointe Asset Management LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 228.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,005 shares of the pharmaceutical company's stock after purchasing an additional 2,784 shares during the quarter. Belpointe Asset Management LLC's holdings in Vertex Pharmaceuticals were worth $1,942,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. United Services Automobile Association acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $2,933,000. Aries Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $293,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $22,954,000. Brighton Jones LLC boosted its holdings in shares of Vertex Pharmaceuticals by 45.0% during the first quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock worth $3,113,000 after purchasing an additional 1,994 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Vertex Pharmaceuticals by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after acquiring an additional 1,005 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs bought 5,000 shares of the company'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 transaction, the director owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

VRTX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research note on Wednesday, August 6th. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Finally, UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Stock Down 2.0%

NASDAQ:VRTX opened at $388.55 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a market cap of $99.62 billion, a price-to-earnings ratio of 27.77 and a beta of 0.44. The company's 50 day moving average is $425.01 and its 200-day moving average is $454.73.

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

Vertex Pharmaceuticals 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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