REAP Financial Group LLC Increases Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

REAP Financial Group LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 128.3% in the second quarter, Holdings Channel.com reports. The fund owned 137 shares of the pharmaceutical company’s stock after buying an additional 77 shares during the quarter. REAP Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Shell Asset Management Co. lifted its position in Vertex Pharmaceuticals by 28.5% in the second quarter. Shell Asset Management Co. now owns 17,181 shares of the pharmaceutical company’s stock valued at $7,649,000 after acquiring an additional 3,809 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Vertex Pharmaceuticals by 5.8% in the second quarter. KLP Kapitalforvaltning AS now owns 92,841 shares of the pharmaceutical company’s stock valued at $41,333,000 after buying an additional 5,100 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $10,059,000. PUREfi Wealth LLC raised its holdings in shares of Vertex Pharmaceuticals by 4.7% in the second quarter. PUREfi Wealth LLC now owns 936 shares of the pharmaceutical company’s stock valued at $417,000 after buying an additional 42 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of Vertex Pharmaceuticals by 0.4% in the second quarter. DAVENPORT & Co LLC now owns 226,184 shares of the pharmaceutical company’s stock valued at $100,490,000 after buying an additional 874 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 2.6%

Shares of Vertex Pharmaceuticals stock opened at $421.15 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The company’s 50-day simple moving average is $395.83 and its 200-day simple moving average is $440.97. The firm has a market cap of $107.98 billion, a price-to-earnings ratio of 30.10 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 (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 business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business posted ($12.83) earnings per share. 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 anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on VRTX shares. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a report on Wednesday, August 6th. Evercore ISI reduced their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the company an “equal weight” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $494.43.

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.