Nemes Rush Group LLC Buys 977 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Nemes Rush Group LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,723 shares of the pharmaceutical company’s stock after acquiring an additional 977 shares during the period. Nemes Rush Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of 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 buying an additional 45 shares in the last quarter. Access Investment Management LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $29,000. Finally, Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $32,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Wells Fargo & Company upgraded 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 research note on Wednesday, August 6th. Cantor Fitzgerald decreased their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a 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 report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.95.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 53,604 shares of Vertex Pharmaceuticals stock in a transaction on Friday, November 14th. The shares were sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the completion of the transaction, the chairman directly owned 24,026 shares of the company’s stock, valued at $10,588,738.72. The trade was a 69.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $426.76 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68. The company has a market capitalization of $108.28 billion, a P/E ratio of 30.50 and a beta of 0.36. The company has a 50-day simple moving average of $411.39 and a 200 day simple moving average of $425.07.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company earned $4.38 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.