Kingstone Capital Partners Texas LLC Takes $23.87 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Kingstone Capital Partners Texas LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 48,792 shares of the pharmaceutical company's stock, valued at approximately $23,871,000.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Vertex Pharmaceuticals by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after acquiring an additional 232,873 shares during the period. Jennison Associates LLC lifted its stake in shares of Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Vertex Pharmaceuticals by 0.9% during the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after purchasing an additional 33,492 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Vertex Pharmaceuticals by 72.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Vertex Pharmaceuticals by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock worth $1,240,885,000 after purchasing an additional 230,257 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

VRTX has been the subject of several recent research reports. Scotiabank lowered their target price 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. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $439.00 price objective on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Stifel Nicolaus cut their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research report on Tuesday, August 5th. Finally, UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $496.05.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $383.12 on Friday. The company has a market capitalization of $98.23 billion, a price-to-earnings ratio of 27.39 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The company's fifty day moving average price is $414.44 and its two-hundred day moving average price is $450.09.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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 the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.

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