Erste Asset Management GmbH Acquires 2,996 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Erste Asset Management GmbH increased its stake in Vertex Pharmaceuticals by 4.6%, acquiring an additional 2,996 shares for a total of 68,770 shares valued at $33.46 million.
• The pharmaceutical company reported $4.52 EPS for the quarter, outperforming analysts' expectations, with revenues of $2.94 billion, a year-over-year increase of 11.3%.
• Analyst ratings on Vertex Pharmaceuticals vary, with a consensus price target of $497.10 and an average rating of "Moderate Buy", while UBS Group set a $553.00 price target with a "buy" rating.

Erste Asset Management GmbH grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,770 shares of the pharmaceutical company's stock after buying an additional 2,996 shares during the period. Erste Asset Management GmbH's holdings in Vertex Pharmaceuticals were worth $33,460,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 450.0% during 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 in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $31,000. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $44,000. Finally, SJS Investment Consulting Inc. boosted 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 worth $46,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of analyst reports. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $390.76 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The business has a 50-day simple moving average of $442.61 and a two-hundred day simple moving average of $463.11. The firm has a market cap of $100.19 billion, a price-to-earnings ratio of 27.93 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its 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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals's revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.