Groupe la Francaise Purchases 741 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Groupe la Francaise increased its stake in Vertex Pharmaceuticals by 13.2%, acquiring an additional 741 shares to reach a total of 6,364 shares, valued at approximately $3.2 million.
• Wall Street analysts have set a consensus price target for Vertex Pharmaceuticals at $497.10, with ratings ranging from "Strong Buy" to "Hold."
• Vertex reported a quarterly earnings per share of $4.52, beating estimates and showing a year-over-year revenue growth of 11.3% to $2.94 billion.

Groupe la Francaise grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,364 shares of the pharmaceutical company's stock after acquiring an additional 741 shares during the quarter. Groupe la Francaise's holdings in Vertex Pharmaceuticals were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. increased its holdings in Vertex Pharmaceuticals by 46.2% during 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.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRTX. Morgan Stanley set a $439.00 price objective on Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Canaccord Genuity Group decreased their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Guggenheim decreased their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $395.12 on Friday. The company has a market capitalization of $101.30 billion, a price-to-earnings ratio of 28.24 and a beta of 0.44. The company has a 50-day simple moving average of $438.99 and a two-hundred day simple moving average of $461.34. 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 posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.

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.