Klingman & Associates LLC Purchases New Stake in Vertex Pharmaceuticals Incorporated $VRTX

Klingman & Associates LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 466 shares of the pharmaceutical company’s stock, valued at approximately $207,000.

Several other institutional investors also recently added to or reduced their stakes in VRTX. Brighton Jones LLC grew its position in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after buying an additional 579 shares during the period. GAMMA Investing LLC grew its position in Vertex Pharmaceuticals by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company’s stock valued at $2,425,000 after buying an additional 1,005 shares during the period. Continuum Advisory LLC grew its position in Vertex Pharmaceuticals by 5.6% during the first quarter. Continuum Advisory LLC now owns 1,665 shares of the pharmaceutical company’s stock valued at $807,000 after buying an additional 89 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Vertex Pharmaceuticals by 5.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 21,694 shares of the pharmaceutical company’s stock valued at $10,518,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Vertex Pharmaceuticals by 4.9% during the first quarter. Asset Management One Co. Ltd. now owns 141,873 shares of the pharmaceutical company’s stock valued at $68,783,000 after purchasing an additional 6,590 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost 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 in the company, valued at $17,535,600. This represents a 12.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on VRTX. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. 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 report on Thursday, September 25th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a “market perform” rating on the stock. 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 report on Wednesday, August 6th. Finally, Citigroup upped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. One research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $494.38.

Vertex Pharmaceuticals Trading Up 1.7%

Shares of Vertex Pharmaceuticals stock opened at $426.27 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The company has a market cap of $109.29 billion, a price-to-earnings ratio of 30.47 and a beta of 0.43. The company’s 50-day moving average price is $397.13 and its 200-day moving average price is $435.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly 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 firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted ($12.83) earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.