GK Wealth Management LLC Purchases Shares of 689 Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• GK Wealth Management LLC recently acquired a new stake in Vertex Pharmaceuticals, purchasing 689 shares valued at approximately $307,000.
• Insider transactions show that Director Bruce I. Sachs purchased 5,000 shares of Vertex at an average price of $389.68, increasing his ownership by 12.50%.
• Vertex Pharmaceuticals reported $4.52 earnings per share in its last quarterly earnings, exceeding analysts' expectations by $0.28 and achieving an 11.3% year-over-year revenue increase.

GK Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 689 shares of the pharmaceutical company's stock, valued at approximately $307,000.

Other institutional investors have also added to or reduced their stakes in the company. United Services Automobile Association purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $2,933,000. Aries Wealth Management purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $293,000. Brighton Jones LLC boosted its position in Vertex Pharmaceuticals by 45.0% during the first quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after buying an additional 1,994 shares during the period. GAMMA Investing LLC boosted its position in Vertex Pharmaceuticals by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after buying an additional 1,005 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $486,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a "market perform" rating for the company. HC Wainwright dropped their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada dropped their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $496.05.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $394.53 on Monday. 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 P/E ratio of 28.20 and a beta of 0.44. The firm has a 50-day moving average of $422.66 and a 200 day moving average of $453.23.

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