PNC Financial Services Group Inc. Has $33.91 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

PNC Financial Services Group Inc. lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,156 shares of the pharmaceutical company’s stock after selling 2,005 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vertex Pharmaceuticals were worth $33,905,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Activest Wealth Management acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 45 shares in the last quarter. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $27,000. Flaharty Asset Management LLC acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. UBS Group lowered their price target on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Stifel Nicolaus dropped their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Canaccord Genuity Group decreased their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada lowered 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 research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $491.95.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $434.52 on Friday. The firm has a market cap of $110.25 billion, a price-to-earnings ratio of 31.06 and a beta of 0.36. The firm’s 50-day simple moving average is $407.22 and its 200-day simple moving average is $428.25. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68.

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