Avior Wealth Management LLC Grows Stake in Vertex Pharmaceuticals Incorporated $VRTX

Avior Wealth Management LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,950 shares of the pharmaceutical company’s stock after purchasing an additional 648 shares during the quarter. Avior Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,313,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd boosted its position in 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 purchasing an additional 45 shares during the period. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth about $32,000. American National Bank & Trust increased its stake in shares of Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 67 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its position in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs bought 5,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $385.73 on Monday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The stock has a fifty day moving average of $406.00 and a 200 day moving average of $445.87. The firm has a market capitalization of $98.90 billion, a price-to-earnings ratio of 27.57 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.28. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on VRTX shares. Evercore ISI cut their price objective 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. Scotiabank cut their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. HC Wainwright reduced their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $458.00 to $456.00 in a report on Thursday. Finally, Guggenheim cut their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.81.

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.