Jacobs Levy Equity Management Inc. Purchases Shares of 66,234 Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Jacobs Levy Equity Management Inc. has acquired a significant stake in Vertex Pharmaceuticals, purchasing 66,234 shares valued at approximately $32.1 million.
• Recent analyses show a mixed outlook for Vertex Pharmaceuticals, with target prices set by different analysts ranging from $405 to $550, and an average consensus rating of "Moderate Buy."
• Insider activity reflects confidence in the company, as Director Bruce I. Sachs purchased an additional 5,000 shares, increasing his holdings by 12.5%.

Jacobs Levy Equity Management Inc. purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 66,234 shares of the pharmaceutical company's stock, valued at approximately $32,112,000.

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

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have commented on VRTX shares. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research note on Wednesday, August 6th. Morgan Stanley set a $439.00 target price on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada decreased their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One investment 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. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $1.23 on Tuesday, hitting $396.48. The company had a trading volume of 946,736 shares, compared to its average volume of 1,633,734. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The company has a market cap of $101.65 billion, a PE ratio of 28.34 and a beta of 0.44. The business has a 50-day simple moving average of $427.49 and a 200-day simple moving average of $455.60.

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

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.