E. Ohman J or Asset Management AB Has $4.68 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• E. Ohman J or Asset Management AB has reduced its stake in Vertex Pharmaceuticals by 8.4% during Q2, now holding $4.68 million worth of stock after selling 970 shares.
• Director Bruce I. Sachs purchased 5,000 shares at approximately $389.68 each, increasing his position by 12.50% to 45,000 shares total.
• Vertex Pharmaceuticals reported a Q2 earnings per share of $4.52, exceeding estimates, with revenues of $2.94 billion, reflecting an 11.3% year-over-year increase.

E. Ohman J or Asset Management AB lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 8.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,520 shares of the pharmaceutical company's stock after selling 970 shares during the period. E. Ohman J or Asset Management AB's holdings in Vertex Pharmaceuticals were worth $4,684,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in 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 buying an additional 45 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at about $32,000. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $31,000. Finally, SJS Investment Consulting Inc. grew its stake in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Down 0.7%

Shares of Vertex Pharmaceuticals stock opened at $394.53 on Monday. The company has a 50 day moving average of $422.66 and a 200-day moving average of $453.23. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a market cap of $101.15 billion, a PE ratio of 28.20 and a beta of 0.44.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen lowered 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 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Evercore ISI decreased their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research report on Thursday. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a "market perform" rating on the stock. Finally, Royal Bank Of Canada decreased their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $496.05.

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.

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