BridgePort Financial Solutions LLC Increases Holdings in Vertex Pharmaceuticals Incorporated $VRTX

BridgePort Financial Solutions LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.3% during the second quarter, HoldingsChannel reports. The fund owned 843 shares of the pharmaceutical company’s stock after buying an additional 50 shares during the period. BridgePort Financial Solutions LLC’s holdings in Vertex Pharmaceuticals were worth $375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management bought a new stake in Vertex Pharmaceuticals during the 1st 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 valued at $27,000 after acquiring an additional 45 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the 1st quarter worth approximately $32,000. American National Bank & Trust lifted its position in Vertex Pharmaceuticals by 515.4% in the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after acquiring an additional 67 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after acquiring an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VRTX. 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 lowered their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Finally, 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. 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. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $493.81.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $403.30 on Friday. The company has a market cap of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The stock’s 50 day simple moving average is $399.12 and its two-hundred day simple moving average is $442.50.

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

About Vertex Pharmaceuticals

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.