Trustmark Bank Trust Department Grows Stake in Vertex Pharmaceuticals Incorporated $VRTX

Trustmark Bank Trust Department boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,940 shares of the pharmaceutical company’s stock after purchasing an additional 372 shares during the quarter. Trustmark Bank Trust Department’s holdings in Vertex Pharmaceuticals were worth $2,199,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock worth $10,673,126,000 after buying an additional 482,616 shares in the last quarter. Jennison Associates LLC increased its holdings in 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 acquiring an additional 1,089,063 shares in the last quarter. Geode Capital Management LLC raised its position in Vertex Pharmaceuticals by 2.9% during the second quarter. Geode Capital Management LLC now owns 5,928,747 shares of the pharmaceutical company’s stock worth $2,627,135,000 after acquiring an additional 166,987 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Vertex Pharmaceuticals by 0.9% in the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock valued at $1,916,742,000 after purchasing an additional 33,492 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Vertex Pharmaceuticals by 1.7% in the second quarter. Loomis Sayles & Co. L P now owns 3,813,378 shares of the pharmaceutical company’s stock valued at $1,697,716,000 after purchasing an additional 65,047 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of several research reports. Citigroup lifted their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright reduced their price objective 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. Cantor Fitzgerald dropped their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $491.95.

Vertex Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ:VRTX opened at $433.45 on Friday. The firm has a market cap of $109.97 billion, a price-to-earnings ratio of 30.98 and a beta of 0.36. The stock’s 50-day moving average price is $415.59 and its two-hundred day moving average price is $425.00. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

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

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,588,738.72. This represents a 69.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.