Creative Planning Lowers Position in Vertex Pharmaceuticals Incorporated $VRTX

Creative Planning reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,174 shares of the pharmaceutical company’s stock after selling 1,666 shares during the period. Creative Planning’s holdings in Vertex Pharmaceuticals were worth $38,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Vertex Pharmaceuticals by 15.0% in the first quarter. Cullen Frost Bankers Inc. now owns 1,027 shares of the pharmaceutical company’s stock valued at $498,000 after buying an additional 134 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth $264,000. Private Advisor Group LLC boosted its stake in Vertex Pharmaceuticals by 3.4% in the 1st quarter. Private Advisor Group LLC now owns 7,452 shares of the pharmaceutical company’s stock worth $3,613,000 after buying an additional 242 shares during the last quarter. Finally, Csenge Advisory Group increased its position in Vertex Pharmaceuticals by 1.7% during the first quarter. Csenge Advisory Group now owns 2,181 shares of the pharmaceutical company’s stock worth $1,067,000 after purchasing an additional 37 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.6%

NASDAQ:VRTX opened at $437.15 on Friday. The stock has a fifty day simple moving average of $408.04 and a 200 day simple moving average of $427.31. The firm has a market capitalization of $110.91 billion, a price-to-earnings ratio of 31.25 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRTX. Wall Street Zen cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Stifel Nicolaus reduced their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley lowered their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Scotiabank began coverage on Vertex Pharmaceuticals in a research note on Thursday. They issued a “sector outperform” rating and a $495.00 target price for the company. Finally, HC Wainwright cut their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $491.95.

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.