Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA increased its holdings in Vertex Pharmaceuticals by 48.9%, owning 16,937 shares valued at $7.54 million by the end of the second quarter.
• Vertex Pharmaceuticals reported $4.52 earnings per share for the last quarter, surpassing analysts' estimates, with quarterly revenue of $2.94 billion, up 11.3% compared to the previous year.
• Analysts maintain a consensus rating of "Moderate Buy" for Vertex Pharmaceuticals, with an average price target of $493.81.

Banque Pictet & Cie SA boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 48.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,937 shares of the pharmaceutical company's stock after acquiring an additional 5,564 shares during the quarter. Banque Pictet & Cie SA's holdings in Vertex Pharmaceuticals were worth $7,540,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Vertex Pharmaceuticals by 60,572.3% in the first quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock valued at $1,175,722,000 after purchasing an additional 2,421,073 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after buying an additional 1,226,527 shares in the last quarter. Nuveen LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $484,053,000. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after buying an additional 744,680 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 28.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock worth $860,650,000 after acquiring an additional 398,460 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $381.87 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The company has a market cap of $97.91 billion, a P/E ratio of 27.30 and a beta of 0.44. The business's 50-day simple moving average is $407.48 and its 200-day simple moving average is $447.31.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce I. Sachs bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost 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 approximately $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Scotiabank cut their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. HC Wainwright reduced their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. BMO Capital Markets set a $530.00 price objective on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada cut their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $493.81.

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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