Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 65.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,444 shares of the pharmaceutical company’s stock after buying an additional 8,070 shares during the quarter. Sterling Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $9,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Vertex Pharmaceuticals by 72.5% in the first 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 acquiring an additional 1,226,527 shares during the last quarter. Jennison Associates LLC increased its position 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 worth $2,738,650,000 after purchasing an additional 1,089,063 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $484,053,000. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $860,650,000 after purchasing an additional 398,460 shares during the period. Finally, Alyeska Investment Group L.P. grew 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 buying an additional 354,269 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $416.25 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The stock has a fifty day moving average price of $404.18 and a two-hundred day moving average price of $430.46. The stock has a market capitalization of $106.72 billion, a price-to-earnings ratio of 29.75 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping the consensus estimate of $4.58 by $0.22. The company 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 business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a report on Wednesday, August 6th. Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Finally, Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $489.45.

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.