Philip James Wealth Mangement LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Philip James Wealth Mangement LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,458 shares of the pharmaceutical company’s stock after purchasing an additional 1,467 shares during the period. Philip James Wealth Mangement LLC’s holdings in Vertex Pharmaceuticals were worth $1,985,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Activest Wealth Management purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 45 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $32,000. American National Bank & Trust grew its stake in shares of Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after acquiring an additional 67 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after acquiring an additional 30 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $404.21 on Thursday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The business’s 50-day moving average is $401.71 and its two-hundred day moving average is $444.45. The company has a market cap of $103.64 billion, a price-to-earnings ratio of 28.89 and a beta of 0.43.

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 return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned ($12.83) earnings per share. Vertex Pharmaceuticals’s revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent research reports. UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Scotiabank lowered their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Cantor Fitzgerald lowered their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $439.00 price target on Vertex Pharmaceuticals and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $493.81.

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.