US Bancorp DE Acquires 1,324 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• US Bancorp DE increased its stake in Vertex Pharmaceuticals by 4.1% in the second quarter, acquiring an additional 1,324 shares to bring its total holdings to 33,583 shares valued at approximately $14.95 million.
• Insider activity reported that Director Bruce I. Sachs bought 5,000 shares at an average price of $389.68, increasing his ownership by 12.5% and now holding 45,000 shares valued at about $17.54 million.
• Vertex Pharmaceuticals has seen varied analyst ratings with a consensus of "Moderate Buy" and an average price target of $494.38, reflecting differing outlooks from major investment firms.

US Bancorp DE grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,583 shares of the pharmaceutical company's stock after buying an additional 1,324 shares during the period. US Bancorp DE's holdings in Vertex Pharmaceuticals were worth $14,951,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after purchasing an additional 579 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Vertex Pharmaceuticals by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock worth $2,425,000 after purchasing an additional 1,005 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Vertex Pharmaceuticals by 7.4% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 1,389 shares of the pharmaceutical company's stock worth $673,000 after purchasing an additional 96 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its position in shares of Vertex Pharmaceuticals by 39.1% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 762 shares of the pharmaceutical company's stock worth $369,000 after purchasing an additional 214 shares during the last quarter. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth about $486,000. Institutional investors own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Canaccord Genuity Group lowered 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 Partners raised Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. Wall Street Zen lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Morgan Stanley decreased their target price on Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $494.38.

Vertex Pharmaceuticals Stock Down 1.7%

NASDAQ VRTX opened at $407.79 on Friday. 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 $104.55 billion, a P/E ratio of 29.15 and a beta of 0.43. The company has a 50-day moving average price of $393.91 and a 200-day moving average price of $439.18.

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