Weiss Ratings Reiterates "Hold (C+)" Rating for Vertex Pharmaceuticals (NASDAQ:VRTX)

Key Points

• Weiss Ratings has reaffirmed its "Hold (C+)" rating for Vertex Pharmaceuticals (NASDAQ: VRTX), amidst mixed ratings from other analysts.
• After recent updates, Vertex Pharmaceuticals' stock price has increased to $421.15 following strong quarterly earnings, reporting an EPS of $4.52 and revenue of $2.94 billion.
• Institutional investors hold a significant majority of Vertex's shares, with recent acquisitions and stakes taken by several investment firms in 2023.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on VRTX. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research report on Wednesday, August 6th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Stifel Nicolaus dropped their target price on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Finally, Guggenheim dropped their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $494.43.

Vertex Pharmaceuticals Trading Up 2.6%

Shares of VRTX traded up $10.87 during midday trading on Wednesday, hitting $421.15. 1,912,966 shares of the company's stock traded hands, compared to its average volume of 1,649,778. Vertex Pharmaceuticals has a 1 year low of $362.50 and a 1 year high of $519.88. The firm's fifty day moving average is $396.79 and its 200-day moving average is $441.11. The stock has a market capitalization of $107.98 billion, a price-to-earnings ratio of 30.10 and a beta of 0.43.

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, beating the consensus estimate of $4.24 by $0.28. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates 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 for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Services Automobile Association purchased a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $2,933,000. Lee Johnson Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth $721,000. Aries Wealth Management acquired a new position in shares of Vertex Pharmaceuticals in the first quarter worth $293,000. Moody Lynn & Lieberson LLC grew 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 acquiring an additional 822 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth $472,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

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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