Bleakley Financial Group LLC Has $6.20 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Bleakley Financial Group LLC increased its stake in Vertex Pharmaceuticals by 23.0%, owning 13,931 shares valued at approximately $6.20 million as of its latest SEC filing.
• Vertex Pharmaceuticals reported $4.52 earnings per share for the last quarter, exceeding analysts' estimates, with revenues reaching $2.94 billion, an 11.3% increase from the previous year.
• Analysts have issued a consensus rating of Moderate Buy for Vertex Pharmaceuticals, with an average price target of $494.38, indicating positive sentiment for the stock's future performance.

Bleakley Financial Group LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 23.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,931 shares of the pharmaceutical company's stock after buying an additional 2,609 shares during the period. Bleakley Financial Group LLC's holdings in Vertex Pharmaceuticals were worth $6,202,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRTX. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals in the first quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares during the period. Flaharty Asset Management LLC bought a new stake in Vertex Pharmaceuticals in the first quarter valued at about $32,000. American National Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock worth $36,000 after buying an additional 67 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $46,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $422.63 on Friday. The firm has a 50-day moving average of $398.38 and a 200-day moving average of $435.23. The company has a market cap of $108.36 billion, a price-to-earnings ratio of 30.21 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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. 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 the consensus estimate of $2.90 billion. During the same period last year, the company earned ($12.83) earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Cantor Fitzgerald decreased their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Finally, Scotiabank dropped their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $494.38.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

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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