Princeton Capital Management LLC Reduces Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Princeton Capital Management LLC cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,475 shares of the pharmaceutical company’s stock after selling 561 shares during the quarter. Vertex Pharmaceuticals comprises about 1.9% of Princeton Capital Management LLC’s holdings, making the stock its 11th largest position. Princeton Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $6,444,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Vertex Pharmaceuticals by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company’s stock valued at $11,388,985,000 after acquiring an additional 232,873 shares in the last quarter. Jennison Associates LLC boosted its holdings in Vertex Pharmaceuticals by 21.5% in the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after purchasing an additional 1,089,063 shares during the period. Alliancebernstein L.P. boosted its holdings in Vertex Pharmaceuticals by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock valued at $1,916,742,000 after purchasing an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $1,414,331,000 after purchasing an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Vertex Pharmaceuticals by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company’s stock worth $1,240,885,000 after purchasing an additional 230,257 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $416.25 on Friday. The stock has a market cap of $106.72 billion, a price-to-earnings ratio of 29.75 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The firm has a 50 day simple moving average of $404.18 and a 200-day simple moving average of $430.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the firm earned $4.38 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VRTX. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a research note on Wednesday, August 6th. 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 note on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.