Klingman & Associates LLC Buys New Shares in Vertex Pharmaceuticals Incorporated $VRTX

Klingman & Associates LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 466 shares of the pharmaceutical company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently modified their holdings of the stock. Activest Wealth Management bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd increased 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 stake in Vertex Pharmaceuticals during the 1st quarter valued at $32,000. American National Bank & Trust increased 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 stake in Vertex Pharmaceuticals during the 1st quarter valued at $46,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. Scotiabank decreased their price target on shares of 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. Evercore ISI decreased their price target on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price target for the company in a research note on Wednesday, August 6th. 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. Finally, Cantor Fitzgerald decreased their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $494.38.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $426.27 on Wednesday. The firm has a 50-day moving average of $397.13 and a 200-day moving average of $435.65. The company has a market cap of $109.29 billion, a P/E ratio of 30.47 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

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

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price 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 in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.