Envestnet Asset Management Inc. Has $199.89 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Envestnet Asset Management Inc. decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,988 shares of the pharmaceutical company’s stock after selling 21,340 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Vertex Pharmaceuticals worth $199,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Resonant Capital Advisors LLC lifted its position in Vertex Pharmaceuticals by 7.4% during the 2nd quarter. Resonant Capital Advisors LLC now owns 1,558 shares of the pharmaceutical company’s stock valued at $694,000 after purchasing an additional 108 shares during the period. Prudent Man Advisors LLC lifted its position in Vertex Pharmaceuticals by 27.7% during the 2nd quarter. Prudent Man Advisors LLC now owns 1,735 shares of the pharmaceutical company’s stock valued at $772,000 after purchasing an additional 376 shares during the period. Heirloom Wealth Management lifted its position in Vertex Pharmaceuticals by 0.4% during the 2nd quarter. Heirloom Wealth Management now owns 19,633 shares of the pharmaceutical company’s stock valued at $8,740,000 after purchasing an additional 80 shares during the period. MQS Management LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $423,000. Finally, Linden Thomas Advisory Services LLC lifted its position in Vertex Pharmaceuticals by 5.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 8,161 shares of the pharmaceutical company’s stock valued at $3,633,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a research report on Tuesday, August 5th. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating on the stock. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their target price for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Evercore ISI lowered their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $494.38.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $420.17 on Tuesday. The business has a 50 day simple moving average of $399.56 and a 200 day simple moving average of $433.85. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The stock has a market cap of $107.73 billion, a price-to-earnings ratio of 30.03 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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 analysts’ expectations of $2.90 billion. During the same period in the prior year, the business earned ($12.83) EPS. Vertex Pharmaceuticals’s revenue for the quarter 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.

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.