Forvis Mazars Wealth Advisors LLC Raises Stake in Vertex Pharmaceuticals Incorporated $VRTX

Forvis Mazars Wealth Advisors LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,600 shares of the pharmaceutical company’s stock after purchasing an additional 152 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VRTX. Price T Rowe Associates Inc. MD boosted its stake in shares of Vertex Pharmaceuticals by 72.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after purchasing an additional 1,226,527 shares during the period. Nuveen LLC purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $484,053,000. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock valued at $2,454,373,000 after purchasing an additional 744,680 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Vertex Pharmaceuticals by 28.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after purchasing an additional 398,460 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Vertex Pharmaceuticals by 456.9% during the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock valued at $209,347,000 after purchasing an additional 354,269 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, 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 hyperlink. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 2.0%

VRTX opened at $416.81 on Monday. The stock has a fifty day simple moving average of $395.46 and a two-hundred day simple moving average of $436.10. The company has a market cap of $106.87 billion, a price-to-earnings ratio of 29.79 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned ($12.83) earnings per share. The firm’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, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VRTX shares. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Canaccord Genuity Group decreased their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a report on Wednesday, August 6th. One equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $494.38.

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.