Morningstar Investment Management LLC Buys New Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Morningstar Investment Management LLC acquired a new stake in Vertex Pharmaceuticals during Q2, purchasing 1,230 shares valued at approximately $548,000.
• Several analysts recently updated their price targets for Vertex Pharmaceuticals, with JPMorgan Chase & Co. raising it from $517.00 to $530.00 while maintaining an "overweight" rating.
• Vertex Pharmaceuticals reported a Q2 earnings per share of $4.52, surpassing estimates, and has a consensus rating of "Moderate Buy" with a price target of $494.38.

Morningstar Investment Management LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,230 shares of the pharmaceutical company's stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VRTX. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 45 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $32,000. American National Bank & Trust raised its holdings in Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock worth $36,000 after purchasing an additional 67 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth $46,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating on the stock in a research note on Friday. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Citigroup lifted their price target on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $494.38.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $407.37 on Tuesday. The stock has a fifty day moving average price of $392.61 and a 200 day moving average price of $438.14. 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 $104.45 billion, a PE ratio of 29.12 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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 company had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts anticipate 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 Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.

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