Facet Wealth Inc. Invests $244,000 in Vertex Pharmaceuticals Incorporated $VRTX

Facet Wealth Inc. acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, Holdings Channel reports. The fund acquired 533 shares of the pharmaceutical company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 45 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $32,000. American National Bank & Trust lifted its holdings in shares of Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after acquiring an additional 67 shares during the period. Finally, Solstein Capital LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $40,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRTX. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a report on Tuesday, August 5th. Citigroup lifted their target price on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a research note on Wednesday, August 6th. Cantor Fitzgerald cut their target price 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. Finally, Stifel Nicolaus cut their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $494.38.

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 Performance

NASDAQ VRTX opened at $420.17 on Tuesday. The business has a 50 day simple moving average of $399.56 and a 200 day simple moving average of $433.85. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The stock has a market cap of $107.73 billion, a price-to-earnings ratio of 30.03 and a beta of 0.43.

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