New England Research & Management Inc. Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• New England Research & Management Inc. acquired 1,060 shares of Vertex Pharmaceuticals, valued at approximately $472,000, during the 2nd quarter.
• In the fourth quarter, several institutional investors, including Brighton Jones LLC and Tidal Investments LLC, increased their positions in Vertex Pharmaceuticals significantly, indicating strong institutional interest.
• Vertex Pharmaceuticals recently reported $4.52 EPS for the quarter, exceeding expectations, with a year-over-year revenue increase of 11.3%.

New England Research & Management Inc. bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 1,060 shares of the pharmaceutical company's stock, valued at approximately $472,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after purchasing an additional 579 shares in the last quarter. Graham Capital Management L.P. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at $229,000. Silvercrest Asset Management Group LLC grew its stake in shares of Vertex Pharmaceuticals by 24.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 17,348 shares of the pharmaceutical company's stock valued at $6,986,000 after buying an additional 3,410 shares during the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Vertex Pharmaceuticals by 15.0% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 3,680 shares of the pharmaceutical company's stock worth $1,482,000 after purchasing an additional 479 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Vertex Pharmaceuticals by 57.1% during the 4th quarter. Tidal Investments LLC now owns 18,353 shares of the pharmaceutical company's stock valued at $7,391,000 after acquiring an additional 6,672 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI decreased their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. HC Wainwright dropped their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. Stifel Nicolaus lowered their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $496.05.

Vertex Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ:VRTX opened at $393.21 on Tuesday. The firm has a market cap of $100.82 billion, a PE ratio of 28.11 and a beta of 0.44. The company has a fifty day simple moving average of $421.34 and a 200 day simple moving average of $452.63. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm earned ($12.83) earnings per share. The company's revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

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

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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