Amalgamated Bank Purchases 2,005 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Amalgamated Bank increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,735 shares of the pharmaceutical company’s stock after buying an additional 2,005 shares during the period. Amalgamated Bank’s holdings in Vertex Pharmaceuticals were worth $24,813,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Atria Investments Inc boosted its holdings in shares of Vertex Pharmaceuticals by 0.9% during the 2nd quarter. Atria Investments Inc now owns 23,501 shares of the pharmaceutical company’s stock worth $10,463,000 after buying an additional 219 shares during the period. Spinnaker Trust boosted its holdings in shares of Vertex Pharmaceuticals by 20.9% during the 2nd quarter. Spinnaker Trust now owns 1,505 shares of the pharmaceutical company’s stock worth $670,000 after buying an additional 260 shares during the period. Savvy Advisors Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 45.8% during the 2nd quarter. Savvy Advisors Inc. now owns 907 shares of the pharmaceutical company’s stock worth $404,000 after buying an additional 285 shares during the period. Assetmark Inc. boosted its holdings in Vertex Pharmaceuticals by 8.3% in the 2nd quarter. Assetmark Inc. now owns 92,391 shares of the pharmaceutical company’s stock valued at $41,133,000 after purchasing an additional 7,094 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in Vertex Pharmaceuticals by 16.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 690 shares of the pharmaceutical company’s stock worth $307,000 after purchasing an additional 96 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Citigroup raised their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $492.10.

Vertex Pharmaceuticals Stock Down 1.2%

NASDAQ:VRTX opened at $417.21 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The firm has a market capitalization of $106.97 billion, a PE ratio of 29.82 and a beta of 0.43. The firm has a 50-day moving average price of $400.65 and a 200 day moving average price of $433.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted ($12.83) earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.