Vertex Pharmaceuticals Incorporated $VRTX Position Raised by Portside Wealth Group LLC

Portside Wealth Group LLC grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,198 shares of the pharmaceutical company’s stock after purchasing an additional 253 shares during the quarter. Portside Wealth Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,424,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Vertex Pharmaceuticals by 72.5% during 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 period. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 21.5% during the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares during the last quarter. Nuveen LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $484,053,000. Vanguard Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 2.1% during the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock worth $10,673,126,000 after buying an additional 482,616 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Vertex Pharmaceuticals by 28.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock worth $860,650,000 after buying an additional 398,460 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent analyst reports. Barclays lifted their target price on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Canaccord Genuity Group reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a report 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 report on Tuesday, August 5th. Citigroup boosted their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $491.95.

Vertex Pharmaceuticals Trading Down 0.7%

Shares of NASDAQ VRTX opened at $434.02 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The firm has a 50-day moving average of $408.82 and a two-hundred day moving average of $426.27. The company has a market capitalization of $110.12 billion, a price-to-earnings ratio of 31.02 and a beta of 0.36.

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

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. This represents a 69.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.