Central Pacific Bank Trust Division Grows Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Central Pacific Bank Trust Division increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,559 shares of the pharmaceutical company’s stock after buying an additional 134 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Vertex Pharmaceuticals were worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VRTX. Quent Capital LLC lifted its holdings in Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company’s stock worth $249,000 after buying an additional 22 shares during the last quarter. Advisor OS LLC lifted its holdings in Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock worth $263,000 after buying an additional 23 shares during the last quarter. Sculati Wealth Management LLC lifted its holdings in Vertex Pharmaceuticals by 1.0% during the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company’s stock worth $1,029,000 after buying an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock worth $594,000 after buying an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its holdings in Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VRTX shares. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. HC Wainwright cut their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. 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 report on Wednesday, August 6th. Raymond James Financial started coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $496.05.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $394.53 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The stock has a market cap of $101.15 billion, a price-to-earnings ratio of 28.20 and a beta of 0.44. The business has a fifty day moving average of $422.66 and a 200-day moving average of $453.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the business posted ($12.83) earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.