Bogart Wealth LLC Purchases 6,240 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Bogart Wealth LLC increased its stake in Vertex Pharmaceuticals by 32.6%, acquiring 6,240 shares to bring its total holdings to 25,407 shares, valued at approximately $11.3 million.
• Multiple institutional investors have recently altered their positions in Vertex Pharmaceuticals, with 90.96% of the stock owned by such entities.
• Vertex Pharmaceuticals reported Q2 earnings of $4.52 EPS, exceeding estimates, along with a year-over-year revenue increase of 11.3%.

Bogart Wealth LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 32.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,407 shares of the pharmaceutical company's stock after buying an additional 6,240 shares during the period. Bogart Wealth LLC's holdings in Vertex Pharmaceuticals were worth $11,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $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 last quarter. Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $32,000. American National Bank & Trust lifted its stake in shares of Vertex Pharmaceuticals by 515.4% in the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $46,000. 90.96% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction dated 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 acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VRTX shares. Scotiabank lowered their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Wall Street Zen downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Royal Bank Of Canada reduced their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Leerink Partners upgraded Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $458.00 to $456.00 in a report on Thursday, September 25th. Finally, Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $494.38.

Vertex Pharmaceuticals Stock Up 2.0%

VRTX opened at $416.81 on Monday. The stock's fifty day moving average is $395.46 and its two-hundred day moving average is $436.10. The company has a market capitalization of $106.87 billion, a P/E ratio of 29.79 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week 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 for the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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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