Northwestern Mutual Wealth Management Co. Increases Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Northwestern Mutual Wealth Management Co. boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.9% during the first quarter, HoldingsChannel reports. The firm owned 13,037 shares of the pharmaceutical company’s stock after buying an additional 490 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Vertex Pharmaceuticals were worth $6,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after acquiring an additional 579 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,651,000. Voleon Capital Management LP bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $5,327,000. Westbourne Investments Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,331,000. Finally, 1248 Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $832,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.5%

NASDAQ:VRTX opened at $389.08 on Thursday. The stock has a market cap of $99.76 billion, a P/E ratio of 27.81 and a beta of 0.44. The firm’s fifty day simple moving average is $435.47 and its 200 day simple moving average is $459.64. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88.

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

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of recent research reports. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Royal Bank Of Canada reduced their price target on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Wolfe Research cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $497.10.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.