Norden Group LLC Raises Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Norden Group LLC increased its stock position in Vertex Pharmaceuticals by 44.0% during the second quarter, now holding shares valued at approximately $1,146,000.
• Following recent analyst reports, Vertex Pharmaceuticals' price targets have been adjusted, with Cantor Fitzgerald lowering its target to $485.00 while UBS Group maintains a higher target of $553.00 and a "buy" rating.
• Insider trading activity revealed that Director Bruce I. Sachs purchased 5,000 shares at an average price of $389.68, raising his total ownership to approximately $17.5 million.

Norden Group LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 44.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,575 shares of the pharmaceutical company's stock after purchasing an additional 787 shares during the quarter. Norden Group LLC's holdings in Vertex Pharmaceuticals were worth $1,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals during the 1st quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $32,000. Finally, SJS Investment Consulting Inc. lifted its holdings in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after buying an additional 30 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Cantor Fitzgerald reduced their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Stifel Nicolaus reduced their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank cut their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Finally, Evercore ISI decreased their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.8%

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

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The business 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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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