2,440 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,440 shares of the pharmaceutical company’s stock, valued at approximately $1,085,000.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in Vertex Pharmaceuticals in the first quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd increased its position 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 acquiring an additional 45 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $32,000. American National Bank & Trust increased its position 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 acquiring an additional 67 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $46,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 1.7%

Shares of VRTX stock opened at $426.27 on Wednesday. The business has a 50 day moving average of $397.13 and a two-hundred day moving average of $435.65. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The company has a market cap of $109.29 billion, a P/E ratio of 30.47 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating 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 company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Canaccord Genuity Group decreased their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Scotiabank decreased their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Finally, UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating 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 issued a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals 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.