Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,540 shares of the pharmaceutical company’s stock after purchasing an additional 18,011 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vertex Pharmaceuticals were worth $57,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of VRTX. Price T Rowe Associates Inc. MD lifted 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 valued at $1,414,331,000 after purchasing an additional 1,226,527 shares during the last quarter. Nuveen LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $484,053,000. Jennison Associates LLC lifted its stake in 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 acquiring an additional 744,680 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 worth $860,650,000 after acquiring an additional 398,460 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Vertex Pharmaceuticals by 456.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after acquiring an additional 354,269 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on VRTX. Scotiabank decreased their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Cantor Fitzgerald decreased their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Citigroup increased their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $494.38.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $412.22 on Wednesday. The stock’s 50-day moving average is $393.35 and its two-hundred day moving average is $437.96. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a market cap of $105.69 billion, a price-to-earnings ratio of 29.47 and a beta of 0.43.

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

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.