Parsons Capital Management Inc. RI Has $4.64 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Parsons Capital Management Inc. RI lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,428 shares of the pharmaceutical company’s stock after purchasing an additional 2,660 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Vertex Pharmaceuticals were worth $4,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Activest Wealth Management acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Vertex Pharmaceuticals by 450.0% in 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 during the period. Flaharty Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $32,000. American National Bank & Trust boosted its position in shares of 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 purchasing an additional 67 shares during the period. Finally, SJS Investment Consulting Inc. boosted its position in shares of 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 purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent analyst reports. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Scotiabank reduced their price objective on 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. Canaccord Genuity Group reduced their price objective 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. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $493.81.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $404.21 on Thursday. The stock has a fifty day moving average price of $401.71 and a two-hundred day moving average price of $444.45. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. 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 issued its quarterly earnings data 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 return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company posted ($12.83) EPS. The business’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, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.