Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,453 shares of the pharmaceutical company’s stock after purchasing an additional 125 shares during the quarter. Vertex Pharmaceuticals comprises about 2.8% of Mcrae Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Mcrae Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $13,558,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Advisor OS LLC lifted its holdings in Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock worth $263,000 after buying an additional 23 shares in the last quarter. Costello Asset Management INC raised its stake in shares of Vertex Pharmaceuticals by 3.6% in the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock valued at $307,000 after acquiring an additional 24 shares in the last quarter. Kovack Advisors Inc. boosted its holdings in Vertex Pharmaceuticals by 1.9% in the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after purchasing an additional 24 shares during the period. Newman Dignan & Sheerar Inc. grew its stake in Vertex Pharmaceuticals by 3.3% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock worth $350,000 after purchasing an additional 25 shares in the last quarter. Finally, Eastern Bank grew its stake in Vertex Pharmaceuticals by 1.6% during the 2nd quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock worth $728,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on VRTX shares. Stifel Nicolaus reduced their target price on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday. Canaccord Genuity Group reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price target for the company in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $489.45.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $416.25 on Friday. The company has a fifty day moving average of $404.18 and a two-hundred day moving average of $430.46. The company has a market capitalization of $106.72 billion, a PE ratio of 29.75 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.38 earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.