Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Lessened by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,408 shares of the pharmaceutical company’s stock after selling 1,609 shares during the period. Griffin Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $2,853,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company’s stock valued at $11,388,985,000 after purchasing an additional 232,873 shares during the last quarter. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after buying an additional 744,680 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Vertex Pharmaceuticals by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after purchasing an additional 33,492 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $1,414,331,000 after purchasing an additional 1,226,527 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 purchasing an additional 230,257 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $407.79 on Monday. 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 $104.55 billion, a price-to-earnings ratio of 29.15 and a beta of 0.43. The firm has a fifty day moving average of $393.91 and a 200-day moving average of $438.74.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRTX. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a “market perform” rating on the stock. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. Canaccord Genuity Group reduced their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $494.38.

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.