Janney Montgomery Scott LLC Buys 3,271 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Janney Montgomery Scott LLC increased its stake in Vertex Pharmaceuticals by 4.8%, acquiring an additional 3,271 shares, bringing its total holdings to 71,890 shares valued at approximately $32 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analysts' expectations and showing a year-over-year revenue growth of 11.3% to $2.94 billion.
• Institutional investors currently own 90.96% of Vertex's stock, indicating strong institutional confidence in the company.

Janney Montgomery Scott LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,890 shares of the pharmaceutical company's stock after acquiring an additional 3,271 shares during the quarter. Janney Montgomery Scott LLC's holdings in Vertex Pharmaceuticals were worth $32,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Vertex Pharmaceuticals by 13.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 484 shares of the pharmaceutical company's stock valued at $215,000 after buying an additional 58 shares during the period. GC Wealth Management RIA LLC increased its holdings in Vertex Pharmaceuticals by 291.4% in the 2nd quarter. GC Wealth Management RIA LLC now owns 1,765 shares of the pharmaceutical company's stock valued at $786,000 after buying an additional 1,314 shares during the period. Alpine Bank Wealth Management increased its holdings in Vertex Pharmaceuticals by 53.3% in the 2nd quarter. Alpine Bank Wealth Management now owns 322 shares of the pharmaceutical company's stock valued at $143,000 after buying an additional 112 shares during the period. Hanson & Doremus Investment Management increased its holdings in Vertex Pharmaceuticals by 54.1% in the 2nd quarter. Hanson & Doremus Investment Management now owns 570 shares of the pharmaceutical company's stock valued at $254,000 after buying an additional 200 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in Vertex Pharmaceuticals by 45.8% in the 2nd quarter. V Square Quantitative Management LLC now owns 5,970 shares of the pharmaceutical company's stock valued at $2,658,000 after buying an additional 1,875 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 3.2%

Shares of NASDAQ:VRTX opened at $404.21 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The company's 50-day moving average price is $401.71 and its two-hundred day moving average price is $444.45. The firm has a market cap of $103.64 billion, a P/E ratio of 28.89 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 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 firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the firm earned ($12.83) EPS. The company'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, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on VRTX shares. Truist Financial set a $490.00 price target on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. Royal Bank Of Canada lowered their price target on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Leerink Partners raised shares of Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $458.00 to $456.00 in a report on Thursday, September 25th. Finally, Evercore ISI lowered their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.81.

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.

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