Howe & Rusling Inc. Increases Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Howe & Rusling Inc. boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,126 shares of the pharmaceutical company’s stock after purchasing an additional 232 shares during the quarter. Howe & Rusling Inc.’s holdings in Vertex Pharmaceuticals were worth $4,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of VRTX. Brighton Jones LLC raised its stake in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares in the last quarter. Graham Capital Management L.P. purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth $229,000. Nuveen Asset Management LLC grew its position in Vertex Pharmaceuticals by 33.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,051,111 shares of the pharmaceutical company’s stock worth $423,282,000 after acquiring an additional 261,891 shares in the last quarter. NorthRock Partners LLC grew its position in Vertex Pharmaceuticals by 53.5% in the fourth quarter. NorthRock Partners LLC now owns 2,925 shares of the pharmaceutical company’s stock worth $1,178,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Man Group plc grew its position in Vertex Pharmaceuticals by 71.6% in the fourth quarter. Man Group plc now owns 88,726 shares of the pharmaceutical company’s stock worth $35,730,000 after acquiring an additional 37,008 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Cantor Fitzgerald cut their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. Finally, Guggenheim decreased their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $496.05.

Vertex Pharmaceuticals Stock Up 2.3%

Shares of NASDAQ VRTX opened at $397.37 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The firm’s fifty day moving average is $423.87 and its 200 day moving average is $454.15. The company has a market cap of $101.88 billion, a price-to-earnings ratio of 28.40 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.