United Asset Strategies Inc. Grows Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• United Asset Strategies Inc. increased its stake in Vertex Pharmaceuticals by 16.7%, now holding 4,612 shares valued at $2,236,000.
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, surpassing analyst estimates of $4.24, and experienced an 11.3% year-over-year revenue growth.
• Analyst price targets for Vertex Pharmaceuticals vary, with estimates ranging from $405.00 to $530.00 and a consensus rating of "Moderate Buy."

United Asset Strategies Inc. lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,612 shares of the pharmaceutical company's stock after buying an additional 661 shares during the quarter. United Asset Strategies Inc.'s holdings in Vertex Pharmaceuticals were worth $2,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Clal Insurance Enterprises Holdings Ltd increased its stake in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. boosted its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $2.34 during midday trading on Friday, hitting $395.12. 1,403,298 shares of the company's stock were exchanged, compared to its average volume of 2,534,666. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company has a market cap of $101.30 billion, a PE ratio of 28.24 and a beta of 0.44. The firm's fifty day simple moving average is $438.99 and its 200-day simple moving average is $461.34.

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. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald cut their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. 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. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Guggenheim cut their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $497.10.

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.