Total Clarity Wealth Management Inc. Has $562,000 Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Total Clarity Wealth Management Inc. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,262 shares of the pharmaceutical company’s stock after purchasing an additional 50 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Vertex Pharmaceuticals were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VRTX. Brighton Jones LLC increased its holdings in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after buying an additional 579 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Vertex Pharmaceuticals by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company’s stock worth $2,425,000 after buying an additional 1,005 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth $82,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth $1,353,000. Finally, Ritholtz Wealth Management increased its holdings in shares of Vertex Pharmaceuticals by 14.2% during the first quarter. Ritholtz Wealth Management now owns 3,459 shares of the pharmaceutical company’s stock worth $1,677,000 after buying an additional 430 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.1%

Shares of Vertex Pharmaceuticals stock opened at $407.37 on Tuesday. The business has a 50-day moving average price of $392.61 and a two-hundred day moving average price of $438.14. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a market cap of $104.45 billion, a P/E ratio of 29.12 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business posted ($12.83) EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRTX shares. UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.38.

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.