Retirement Planning Co of New England Inc. Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Retirement Planning Co of New England Inc. acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the first quarter, Holdings Channel reports. The fund acquired 2,000 shares of the pharmaceutical company’s stock, valued at approximately $970,000.

Other institutional investors have also added to or reduced their stakes in the company. Aries Wealth Management bought a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $293,000. Polar Asset Management Partners Inc. bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $22,954,000. Brighton Jones LLC grew its position in Vertex Pharmaceuticals by 45.0% in the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company’s stock worth $3,113,000 after purchasing an additional 1,994 shares in the last quarter. GAMMA Investing LLC grew its position in Vertex Pharmaceuticals by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company’s stock worth $2,425,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $486,000. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRTX. Canaccord Genuity Group reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $497.10.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.3%

VRTX opened at $391.02 on Friday. The company has a 50 day moving average of $433.35 and a 200 day moving average of $458.70. The company has a market cap of $100.25 billion, a PE ratio of 27.95 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate 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 for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.