Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,108 shares of the pharmaceutical company’s stock after buying an additional 210 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Vertex Pharmaceuticals were worth $11,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of VRTX. Vanguard Group Inc. lifted its stake in shares of Vertex Pharmaceuticals by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company’s stock worth $11,388,985,000 after purchasing an additional 232,873 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Vertex Pharmaceuticals by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after acquiring an additional 33,492 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Vertex Pharmaceuticals by 72.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock worth $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Vertex Pharmaceuticals by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company’s stock worth $1,240,885,000 after acquiring an additional 230,257 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VRTX shares. UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Cantor Fitzgerald lowered their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Finally, HC Wainwright cut their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $492.10.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was bought 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 in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Up 1.4%

Vertex Pharmaceuticals stock opened at $425.57 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The firm’s fifty day simple moving average is $401.71 and its 200-day simple moving average is $432.43. The company has a market capitalization of $109.11 billion, a P/E ratio of 30.42 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm posted ($12.83) EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.