Rafferty Asset Management LLC Has $34.34 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Rafferty Asset Management LLC reduced its stake in Vertex Pharmaceuticals by 21.5%, holding 70,830 shares valued at approximately $34.34 million after selling shares in the first quarter.
• Wall Street analysts have expressed varying opinions on Vertex Pharmaceuticals, with a consensus rating of “Moderate Buy” and a target price averaging $497.10.
• Vertex Pharmaceuticals reported earnings per share (EPS) of $4.52 for the last quarter, beating estimates and showing an 11.3% increase in revenue year-over-year.

Rafferty Asset Management LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 21.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,830 shares of the pharmaceutical company's stock after selling 19,389 shares during the quarter. Rafferty Asset Management LLC's holdings in Vertex Pharmaceuticals were worth $34,340,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VRTX. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth $31,000. SJS Investment Consulting Inc. lifted its stake in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at $46,000. Finally, Stone House Investment Management LLC bought a new stake in Vertex Pharmaceuticals in the first quarter valued at about $48,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. HC Wainwright lowered their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Canaccord Genuity Group reduced their price target 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. Finally, Stifel Nicolaus cut their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Trading Down 1.6%

NASDAQ VRTX opened at $388.94 on Tuesday. The firm has a market capitalization of $99.72 billion, a PE ratio of 27.80 and a beta of 0.44. The business's 50-day moving average price is $437.75 and its two-hundred day moving average price is $460.64. 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 announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (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 for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned ($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 forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was bought 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 directly owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals 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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