Mitchell Mcleod Pugh & Williams Inc. Raises Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Mitchell Mcleod Pugh & Williams Inc. lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 44.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 742 shares of the pharmaceutical company’s stock after buying an additional 230 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Vertex Pharmaceuticals were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Advisor OS LLC lifted its stake in shares of Vertex Pharmaceuticals by 4.4% in the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after purchasing an additional 23 shares during the period. Costello Asset Management INC raised its position in Vertex Pharmaceuticals by 3.6% during the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after acquiring an additional 24 shares during the period. Avidian Wealth Enterprises LLC raised its position in Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock worth $594,000 after acquiring an additional 25 shares during the period. Strategic Blueprint LLC raised its position in Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after acquiring an additional 25 shares during the period. Finally, Newman Dignan & Sheerar Inc. raised its position in Vertex Pharmaceuticals by 3.3% during the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock worth $350,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.0%

Vertex Pharmaceuticals stock opened at $407.90 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The firm has a market capitalization of $104.58 billion, a price-to-earnings ratio of 29.16 and a beta of 0.43. The company has a fifty day simple moving average of $393.80 and a 200-day simple moving average of $437.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the firm earned ($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, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In other 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 purchased at an average price of $389.68 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating for the company. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Stifel Nicolaus reduced their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research report on Tuesday, August 5th. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $494.38.

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.