Philip James Wealth Mangement LLC Acquires 1,467 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Philip James Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 49.0%, acquiring an additional 1,467 shares and bringing its total holdings to 4,458 shares valued at approximately $1,985,000.
• Analysts have set new price targets for Vertex Pharmaceuticals, with UBS Group suggesting a target of $553.00 and multiple analysts rating the stock as a buy, indicating a consensus rating of "Moderate Buy".
• Vertex Pharmaceuticals reported a quarterly revenue of $2.94 billion, exceeding analysts' expectations, and its earnings per share (EPS) of $4.52 beat forecasts by $0.28.

Philip James Wealth Mangement LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,458 shares of the pharmaceutical company's stock after purchasing an additional 1,467 shares during the quarter. Philip James Wealth Mangement LLC's holdings in Vertex Pharmaceuticals were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Advisor OS LLC lifted its position in Vertex Pharmaceuticals by 4.4% in the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after buying an additional 23 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after buying an additional 25 shares during the last quarter. Strategic Blueprint LLC lifted its position in Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock worth $726,000 after buying an additional 25 shares during the last quarter. Newman Dignan & Sheerar Inc. lifted its position in Vertex Pharmaceuticals by 3.3% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company's stock worth $350,000 after buying an additional 25 shares during the last quarter. Finally, Breakwater Capital Group lifted its position in Vertex Pharmaceuticals by 1.5% in the 1st quarter. Breakwater Capital Group now owns 1,786 shares of the pharmaceutical company's stock worth $866,000 after buying an additional 27 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on VRTX shares. UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research note on Wednesday, August 6th. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $493.81.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The shares were bought 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 directly owned 45,000 shares in the company, 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 can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Up 3.2%

Shares of Vertex Pharmaceuticals stock opened at $404.21 on Thursday. The company has a market cap of $103.64 billion, a PE ratio of 28.89 and a beta of 0.43. The business has a 50 day moving average of $401.71 and a 200 day moving average of $444.45. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion during 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 firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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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