MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases New Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Vertex Pharmaceuticals, purchasing 54,104 shares valued at approximately $24.1 million in the second quarter.
• Vertex Pharmaceuticals has received favorable ratings from analysts, with a consensus target price of $496.05, including various "buy" ratings and an "outperform" designation from BMO Capital Markets.
• In recent earnings, Vertex reported $4.52 EPS, exceeding expectations, along with a 11.3% year-over-year revenue increase to $2.94 billion for the quarter.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 54,104 shares of the pharmaceutical company's stock, valued at approximately $24,087,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. United Services Automobile Association purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $2,933,000. Aries Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter worth approximately $293,000. New England Research & Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $472,000. Paladin Wealth LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth $552,000. Finally, Andrew Hill Investment Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 21.8% during the second quarter. Andrew Hill Investment Advisors Inc. now owns 8,003 shares of the pharmaceutical company's stock worth $3,563,000 after buying an additional 1,430 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VRTX shares. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $496.05.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $376.62 on Thursday. The stock's 50-day moving average is $409.11 and its two-hundred day moving average is $448.13. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a market cap of $96.56 billion, a price-to-earnings ratio of 26.92 and a beta of 0.44.

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

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly 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 accessible through the SEC website. Insiders own 0.20% of the company's stock.

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.

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.