Recent activity shows several institutional investors trading Vertex Pharmaceuticals shares. The University of Texas AM Investment Management bought shares worth $25,000. Annapolis Financial Services LLC invested about $27,000 in the first quarter, and GHP Investment Advisors Inc. purchased shares worth approximately $29,000 in the second quarter. Stephens Consulting LLC acquired shares valued at around $31,000, while Founders Capital Management increased its stake by 50% to 75 shares, now valued at $35,000. Institutional ownership is at 90.96%.
Wall Street Analysts Forecast Growth
JPMorgan Chase raised its price target for Vertex Pharmaceuticals to $510 with an overweight rating. Guggenheim increased its target from $450 to $558 and gave a buy rating. Three analysts rated the stock as a sell, eight as a hold, and sixteen as a buy. Overall, the average rating is Hold with a target price of $486.95.
Read Our Latest Analysis on VRTX
Vertex Pharmaceuticals Stock Up 2.0%
On Thursday, VRTX stock opened at $467.97. The stock has ranged from a low of $341.90 to a high of $510.64 over the past year. The company posted a quarterly revenue of $2.65 billion, slightly below the anticipated $2.66 billion.
Insiders Place Their Bets
Director Bruce I. Sachs sold 5,295 shares at $508, totaling about $2.69 million. Following this, he retains 40,000 shares valued at roughly $20.32 million. Chairman Jeffrey M. Leiden also sold 3,784 shares for about $1.89 million. During the last ninety days, insiders sold a total of 29,487 shares valued at $14.66 million, holding 0.20% of the company stock.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals develops therapies for cystic fibrosis (CF), including TRIKAFTA/KAFTRIO and ORKAMBI.
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