Strid Group LLC Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Strid Group LLC recently acquired a stake in Vertex Pharmaceuticals, purchasing 2,500 shares worth approximately $1,113,000 in the second quarter.
• Analysts have mixed opinions on Vertex, with price targets ranging from $438.00 to $553.00, and a consensus rating of "Moderate Buy."
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, significantly surpassing analysts' expectations, with a year-over-year revenue increase of 11.3%.

Strid Group LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,500 shares of the pharmaceutical company's stock, valued at approximately $1,113,000.

A number of other institutional investors also recently modified their holdings of the business. United Services Automobile Association bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $2,933,000. Lee Johnson Capital Management LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $721,000. Aries Wealth Management bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $293,000. Moody Lynn & Lieberson LLC lifted its position in Vertex Pharmaceuticals by 1.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company's stock worth $25,856,000 after purchasing an additional 822 shares during the period. Finally, New England Research & Management Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter worth about $472,000. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent analyst reports. Scotiabank cut their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Evercore ISI cut their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company raised shares of 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. UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, HC Wainwright lowered their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $493.81.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $403.30 on Friday. The business's 50 day simple moving average is $399.12 and its 200 day simple moving average is $442.50. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The stock has a market capitalization of $103.40 billion, a PE ratio of 28.83 and a beta of 0.43.

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 the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the prior year, the business posted ($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. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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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