Vertex Pharmaceuticals Incorporated $VRTX Position Boosted by Smith Group Asset Management LLC

Smith Group Asset Management LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,255 shares of the pharmaceutical company’s stock after purchasing an additional 612 shares during the quarter. Smith Group Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $20,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals during the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter valued at $32,000. American National Bank & Trust boosted its stake in Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Vertex Pharmaceuticals during the 1st quarter valued at $46,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Down 0.9%

VRTX opened at $422.63 on Friday. The stock has a fifty day moving average of $398.38 and a 200-day moving average of $435.23. The firm has a market capitalization of $108.36 billion, a P/E ratio of 30.21 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (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 analyst estimates of $2.90 billion. During the same quarter in the prior year, the company earned ($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, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bruce I. Sachs acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a “market perform” rating for the company. Scotiabank reduced their price objective 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. Wall Street Zen lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, BMO Capital Markets set a $530.00 price objective on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company 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.