AXQ Capital LP Purchases Shares of 484 Vertex Pharmaceuticals Incorporated $VRTX

AXQ Capital LP acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 484 shares of the pharmaceutical company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Costello Asset Management INC lifted its position in Vertex Pharmaceuticals by 3.6% during the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock valued at $307,000 after purchasing an additional 24 shares in the last quarter. Kovack Advisors Inc. boosted its stake in shares of Vertex Pharmaceuticals by 1.9% in the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock worth $570,000 after acquiring an additional 24 shares during the period. Newman Dignan & Sheerar Inc. grew its position in shares of Vertex Pharmaceuticals by 3.3% during the second 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. Eastern Bank raised 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 valued at $728,000 after purchasing an additional 25 shares during the period. Finally, Washington Trust Advisors Inc. raised its stake in Vertex Pharmaceuticals by 8.4% during the 2nd quarter. Washington Trust Advisors Inc. now owns 323 shares of the pharmaceutical company’s stock valued at $144,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. The trade was a 69.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.4%

VRTX opened at $429.82 on Wednesday. The business has a fifty day moving average of $412.78 and a 200 day moving average of $424.99. The stock has a market cap of $109.05 billion, a P/E ratio of 30.72 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $4.38 earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Stifel Nicolaus dropped their target price on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Guggenheim cut their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. HC Wainwright decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. Finally, Citigroup raised their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $491.95.

Vertex Pharmaceuticals 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.