Paloma Partners Management Co Invests $407,000 in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Paloma Partners Management Co has invested approximately $407,000 in Vertex Pharmaceuticals, acquiring 840 shares as part of its new stake in the company.
• Vertex Pharmaceuticals reported an EPS of $4.52 for the last quarter, exceeding analysts' expectations and showing an 11.3% revenue increase compared to the previous year.
• Analysts have set a consensus target price of $497.10 for Vertex Pharmaceuticals, with the stock receiving ratings ranging from "Strong Buy" to "Hold" from various brokerages.

Paloma Partners Management Co acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 840 shares of the pharmaceutical company's stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quent Capital LLC increased its position in Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after purchasing an additional 22 shares during the period. Advisor OS LLC lifted its stake in Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after acquiring an additional 23 shares in the last quarter. Sculati Wealth Management LLC lifted its stake in Vertex Pharmaceuticals by 1.0% during the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock valued at $1,029,000 after acquiring an additional 25 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after purchasing an additional 25 shares during the period. Finally, Strategic Blueprint LLC raised its stake in shares of Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Down 0.3%

Shares of VRTX opened at $391.02 on Monday. The business's 50 day moving average is $433.35 and its 200 day moving average is $458.67. The company has a market capitalization of $100.25 billion, a PE ratio of 27.95 and a beta of 0.44. 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 released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTX. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Cantor Fitzgerald dropped their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Stifel Nicolaus decreased their target price on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Guggenheim cut their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated 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 owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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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