Janney Montgomery Scott LLC Has $32.01 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Janney Montgomery Scott LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.8% during the second quarter, HoldingsChannel.com reports. The firm owned 71,890 shares of the pharmaceutical company’s stock after acquiring an additional 3,271 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Vertex Pharmaceuticals were worth $32,005,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. United Services Automobile Association acquired a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $2,933,000. Aries Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $293,000. New England Research & Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $472,000. Moody Lynn & Lieberson LLC raised its position in shares of Vertex Pharmaceuticals by 1.4% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after acquiring an additional 822 shares during the period. Finally, Paladin Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $552,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price target for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Stifel Nicolaus cut their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a research report on Tuesday, August 5th. Truist Financial set a $490.00 price target on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Guggenheim cut their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $493.81.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company’s stock, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 3.2%

Shares of VRTX opened at $404.21 on Thursday. The stock has a market capitalization of $103.64 billion, a P/E ratio of 28.89 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company has a 50 day moving average of $401.71 and a 200-day moving average of $444.45.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results 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. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.