Pure Financial Advisors LLC Raises Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Pure Financial Advisors LLC increased its stake in Vertex Pharmaceuticals by 248.7% in Q2, now owning 2,891 shares valued at approximately $1.29 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analyst expectations of $4.24, with revenue of $2.94 billion, a 11.3% increase from the previous year.
• Analysts maintain a consensus rating of "Moderate Buy" for Vertex Pharmaceuticals, with an average target price of $493.81.

Pure Financial Advisors LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 248.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,891 shares of the pharmaceutical company's stock after buying an additional 2,062 shares during the period. Pure Financial Advisors LLC's holdings in Vertex Pharmaceuticals were worth $1,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock worth $11,388,985,000 after buying an additional 232,873 shares in the last quarter. Jennison Associates LLC grew its stake in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after buying an additional 744,680 shares in the last quarter. Alliancebernstein L.P. grew its stake in Vertex Pharmaceuticals by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after buying an additional 33,492 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after buying an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Vertex Pharmaceuticals by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock worth $1,240,885,000 after buying an additional 230,257 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.1%

NASDAQ:VRTX opened at $408.85 on Friday. The company has a fifty day moving average of $400.44 and a 200 day moving average of $443.73. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The firm has a market capitalization of $104.83 billion, a P/E ratio of 29.22 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business posted ($12.83) EPS. The firm's revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In other news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on VRTX. Leerink Partners raised shares of Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. HC Wainwright lowered their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Finally, Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $493.81.

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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