Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Spinnaker Trust

Spinnaker Trust raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,505 shares of the pharmaceutical company’s stock after acquiring an additional 260 shares during the period. Spinnaker Trust’s holdings in Vertex Pharmaceuticals were worth $670,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. United Services Automobile Association acquired a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $2,933,000. Lee Johnson Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $721,000. SteelPeak Wealth LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $10,059,000. Moody Lynn & Lieberson LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $472,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.6%

Shares of Vertex Pharmaceuticals stock opened at $419.89 on Friday. The company has a fifty day simple moving average of $401.10 and a 200-day simple moving average of $432.92. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The stock has a market cap of $107.66 billion, a price-to-earnings ratio of 30.01 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the business posted ($12.83) EPS. 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 forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Stifel Nicolaus dropped their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a “market perform” rating for the company. Finally, Citigroup boosted their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $492.10.

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.