V Square Quantitative Management LLC Buys 1,875 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• V Square Quantitative Management LLC increased its stake in Vertex Pharmaceuticals by 45.8%, acquiring an additional 1,875 shares for a total of 5,970 shares valued at approximately $2.66 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, surpassing analysts' expectations of $4.24, and generated a revenue of $2.94 billion, reflecting an 11.3% year-over-year increase.
• The stock received positive ratings from analysts, with Wells Fargo upgrading it to "overweight" with a target price of $460.00 and a consensus rating of "Moderate Buy" from various analysts.

V Square Quantitative Management LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 45.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,970 shares of the pharmaceutical company's stock after acquiring an additional 1,875 shares during the period. V Square Quantitative Management LLC's holdings in Vertex Pharmaceuticals were worth $2,658,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in VRTX. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 45 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. American National Bank & Trust raised its position in shares of Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock valued at $36,000 after purchasing an additional 67 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after purchasing an additional 30 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.0%

Shares of VRTX opened at $385.73 on Monday. The stock has a market capitalization of $98.90 billion, a P/E ratio of 27.57 and a beta of 0.44. The firm has a fifty day simple moving average of $406.00 and a two-hundred day simple moving average of $445.87. 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 issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

VRTX has been the topic of a number of analyst reports. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price on the stock in a report on Wednesday, August 6th. Canaccord Genuity Group decreased their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a "market perform" rating on the stock. Stifel Nicolaus decreased their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $493.81.

Insider Buying and Selling

In other news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

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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