Golden State Wealth Management LLC Has $114,000 Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Golden State Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 169.5% during the second quarter, Holdings Channel reports. The institutional investor owned 256 shares of the pharmaceutical company’s stock after purchasing an additional 161 shares during the period. Golden State Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Vertex Pharmaceuticals by 72.5% in the 1st 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. Jennison Associates LLC increased its position in shares of Vertex Pharmaceuticals by 21.5% during the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after acquiring an additional 1,089,063 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $484,053,000. Goldman Sachs Group Inc. boosted its stake in Vertex Pharmaceuticals by 28.9% during the 1st 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 last quarter. Finally, Alyeska Investment Group L.P. raised its stake in shares of Vertex Pharmaceuticals by 456.9% in the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after purchasing an additional 354,269 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.6%

Vertex Pharmaceuticals stock opened at $409.47 on Friday. The business’s 50 day simple moving average is $404.55 and its 200 day simple moving average is $429.99. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The company has a market cap of $104.98 billion, a price-to-earnings ratio of 29.27 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company posted $4.38 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent research reports. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Scotiabank cut their price target on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating on the stock. Finally, Barclays upped their target price on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $489.10.

About Vertex Pharmaceuticals

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.