Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by MAI Capital Management

MAI Capital Management increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,127 shares of the pharmaceutical company’s stock after buying an additional 209 shares during the period. MAI Capital Management’s holdings in Vertex Pharmaceuticals were worth $947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd boosted 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 purchasing an additional 45 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $29,000. Finally, Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the first quarter valued at $32,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRTX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $458.00 to $456.00 in a research note on Thursday, September 25th. 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. UBS Group lowered their target price on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Stifel Nicolaus dropped their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $491.95.

Insider Activity at Vertex Pharmaceuticals

In related 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 transaction, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. The trade was a 69.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $424.00 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The firm has a market capitalization of $107.58 billion, a P/E ratio of 30.31 and a beta of 0.36. The business’s 50-day simple moving average is $412.01 and its 200-day simple moving average is $424.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.