Bleakley Financial Group LLC Buys 2,609 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Bleakley Financial Group LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 13,931 shares of the pharmaceutical company’s stock after purchasing an additional 2,609 shares during the quarter. Bleakley Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $6,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in VRTX. Activest Wealth Management bought a new position in Vertex Pharmaceuticals during the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $32,000. American National Bank & Trust increased its holdings in shares of Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 67 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $46,000. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 0.9%

Shares of Vertex Pharmaceuticals stock opened at $422.63 on Friday. The firm’s 50 day moving average is $398.38 and its 200 day moving average is $435.23. The firm has a market capitalization of $108.36 billion, a PE ratio of 30.21 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

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

Analyst Ratings Changes

VRTX has been the topic of a number of analyst reports. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Stifel Nicolaus decreased their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a report on Tuesday, August 5th. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Guggenheim decreased their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $494.38.

Vertex Pharmaceuticals 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.