Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Vertex Pharmaceuticals by 203%, acquiring a total of 16,715 shares valued at approximately $7.44 million as of the latest report.
• Wall Street analysts have a Moderate Buy consensus rating for Vertex Pharmaceuticals, with an average price target of $494.43, amidst growth forecasts and upgrades from several brokerages.
• In insider activity, Director Bruce I. Sachs purchased 5,000 shares of Vertex stock at an average price of $389.68, raising his ownership stake by 12.5%.

Callan Family Office LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 203.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,715 shares of the pharmaceutical company's stock after acquiring an additional 11,198 shares during the quarter. Callan Family Office LLC's holdings in Vertex Pharmaceuticals were worth $7,441,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. United Services Automobile Association acquired a new stake in Vertex Pharmaceuticals in the first quarter worth about $2,933,000. Lee Johnson Capital Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $721,000. Aries Wealth Management purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $293,000. Moody Lynn & Lieberson LLC raised its stake in shares of Vertex Pharmaceuticals by 1.4% in 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 last quarter. Finally, SteelPeak Wealth LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $10,059,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRTX. Leerink Partners upgraded Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Truist Financial set a $490.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $494.43.

Insider Activity at Vertex Pharmaceuticals

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

Vertex Pharmaceuticals Trading Down 1.5%

Shares of VRTX stock opened at $414.86 on Friday. The stock has a 50 day moving average of $394.99 and a 200 day moving average of $440.30. The stock has a market cap of $106.37 billion, a P/E ratio of 29.65 and a beta of 0.43. 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 posted its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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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