Focus Partners Wealth Purchases 2,471 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Focus Partners Wealth boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 143,205 shares of the pharmaceutical company’s stock after purchasing an additional 2,471 shares during the quarter. Focus Partners Wealth’s holdings in Vertex Pharmaceuticals were worth $69,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of VRTX. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth about $25,000. 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 valued at $27,000 after acquiring an additional 45 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $32,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $40,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRTX. Scotiabank cut their price target on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Wells Fargo & Company upgraded 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. Stifel Nicolaus cut their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced 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 investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $497.10.

Vertex Pharmaceuticals Price Performance

VRTX opened at $388.55 on Thursday. The stock has a market capitalization of $99.62 billion, a P/E ratio of 27.77 and a beta of 0.44. The company’s 50 day simple moving average is $425.01 and its 200-day simple moving average is $454.73. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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. The firm had revenue of $2.94 billion for 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 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 earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price 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 $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% 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.