Quantitative Investment Management LLC Purchases New Shares in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Quantitative Investment Management LLC acquired approximately 14,997 shares of Vertex Pharmaceuticals for around $7.27 million during the first quarter.
• Vertex Pharmaceuticals reported a Q2 EPS of $4.52, exceeding estimates of $4.24, with revenues of $2.94 billion, marking an 11.3% year-over-year increase.
• Insider trading activity includes Director Bruce I. Sachs acquiring 5,000 shares at an average cost of $389.68, increasing his ownership by 12.50%.

Quantitative Investment Management LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,997 shares of the pharmaceutical company's stock, valued at approximately $7,270,000.

Several other hedge funds also recently made changes to their positions in the company. Quent Capital LLC grew its stake in shares of Vertex Pharmaceuticals by 4.5% in the first quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock worth $249,000 after acquiring an additional 22 shares during the last quarter. Advisor OS LLC grew its stake in shares of Vertex Pharmaceuticals by 4.4% in the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock worth $263,000 after acquiring an additional 23 shares during the last quarter. Sculati Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 1.0% in the fourth quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock worth $1,029,000 after acquiring an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock worth $594,000 after acquiring an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC raised its stake in shares of Vertex Pharmaceuticals by 1.7% in the first 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 last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Down 0.6%

NASDAQ VRTX opened at $395.12 on Friday. The firm has a market cap of $101.30 billion, a price-to-earnings ratio of 28.24 and a beta of 0.44. The business has a 50-day moving average price of $438.99 and a 200-day moving average price of $461.34. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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 return on equity of 23.91% and a net margin of 31.86%.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 company earned ($12.83) earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRTX. Stifel Nicolaus decreased their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Canaccord Genuity Group reduced their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. HC Wainwright reduced their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research report 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 company's stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $497.10.

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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