Ieq Capital LLC Buys 3,782 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Ieq Capital LLC increased its stake in Vertex Pharmaceuticals by 20.8%, now owning 22,005 shares valued at approximately $10.67 million.
• Wall Street analysts have mixed ratings on Vertex, with one Strong Buy, thirteen Buy ratings, and a consensus target price of $497.10.
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, exceeding estimates and reflecting an 11.3% increase in revenue year-over-year.

Ieq Capital LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 20.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,005 shares of the pharmaceutical company's stock after purchasing an additional 3,782 shares during the quarter. Ieq Capital LLC's holdings in Vertex Pharmaceuticals were worth $10,668,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its position in Vertex Pharmaceuticals by 4.5% during the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after purchasing an additional 22 shares during the period. Advisor OS LLC boosted its position in Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after purchasing an additional 23 shares during the period. Sculati Wealth Management LLC boosted its position in Vertex Pharmaceuticals by 1.0% during the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after purchasing an additional 25 shares during the period. Avidian Wealth Enterprises LLC boosted its position in Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the period. Finally, Strategic Blueprint LLC boosted its position in Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. Scotiabank cut their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Guggenheim cut their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Leerink Partnrs lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $1.03 during trading hours on Friday, reaching $391.02. The stock had a trading volume of 1,309,844 shares, compared to its average volume of 2,585,422. The business's fifty day moving average is $433.35 and its two-hundred day moving average is $458.70. The company has a market cap of $100.25 billion, a price-to-earnings ratio of 27.95 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88.

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

About Vertex Pharmaceuticals

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.