Cinctive Capital Management LP Takes $6.74 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Cinctive Capital Management LP has acquired a new stake in Vertex Pharmaceuticals, purchasing 13,891 shares valued at approximately $6.7 million.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, surpassing analysts' expectations and showing an 11.3% revenue increase compared to the previous year.
• Several analysts have revised their price targets for Vertex, with the average target now at $497.10, and the stock holds a consensus rating of "Moderate Buy".

Cinctive Capital Management LP acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 13,891 shares of the pharmaceutical company's stock, valued at approximately $6,735,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $44,000. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $0.81 during trading on Friday, hitting $396.12. The stock had a trading volume of 1,171,066 shares, compared to its average volume of 1,677,311. The company has a market capitalization of $101.56 billion, a PE ratio of 28.31 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. The firm has a fifty day moving average of $428.49 and a two-hundred day moving average of $456.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) 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 company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company posted ($12.83) EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Guggenheim lowered their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Cantor Fitzgerald cut their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada dropped their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.