Hanson & Doremus Investment Management Has $254,000 Stake in Vertex Pharmaceuticals Incorporated $VRTX

Hanson & Doremus Investment Management lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 54.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 570 shares of the pharmaceutical company’s stock after acquiring an additional 200 shares during the period. Hanson & Doremus Investment Management’s holdings in Vertex Pharmaceuticals were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VRTX. Price T Rowe Associates Inc. MD grew its stake in shares of Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after buying an additional 1,226,527 shares during the period. Nuveen LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $484,053,000. Jennison Associates LLC grew its stake in Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock valued at $2,454,373,000 after acquiring an additional 744,680 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 28.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after acquiring an additional 398,460 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Vertex Pharmaceuticals by 456.9% during the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after purchasing an additional 354,269 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director 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 SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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 firm has a 50-day moving average price of $406.00 and a two-hundred day moving average price of $445.87. The firm has a market cap of $98.90 billion, a price-to-earnings ratio of 27.57 and a beta of 0.44.

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

Analyst Ratings Changes

VRTX has been the subject of a number of recent research reports. Guggenheim decreased their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $458.00 to $456.00 in a research report on Thursday. HC Wainwright cut their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Finally, Scotiabank lowered 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average 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.