Vertex Pharmaceuticals Incorporated $VRTX Stake Lifted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS raised its stake in Vertex Pharmaceuticals by 5.8%, bringing its total ownership to 92,841 shares valued at approximately $41.33 million.
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, surpassing analysts' expectations, and had a revenue of $2.94 billion for the quarter, reflecting an 11.3% year-over-year increase.
• Wall Street analysts show a consensus Moderate Buy rating for Vertex Pharmaceuticals, with a consensus price target of $493.81.

KLP Kapitalforvaltning AS raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 92,841 shares of the pharmaceutical company's stock after buying an additional 5,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Vertex Pharmaceuticals were worth $41,333,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% in the 1st 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 last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. American National Bank & Trust increased its stake 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 holdings in shares of Vertex Pharmaceuticals by 46.2% during the first 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 last quarter. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Guggenheim decreased their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Vertex Pharmaceuticals in a research note on Saturday, September 27th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $493.81.

Vertex Pharmaceuticals Stock Down 0.1%

NASDAQ:VRTX opened at $402.90 on Tuesday. The business's 50-day moving average price is $397.96 and its 200 day moving average price is $441.32. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The firm has a market cap of $103.30 billion, a P/E ratio of 28.80 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. Vertex Pharmaceuticals's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company 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 year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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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