Vise Technologies Inc. Buys Shares of 4,278 Vertex Pharmaceuticals Incorporated $VRTX

Vise Technologies Inc. purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,278 shares of the pharmaceutical company’s stock, valued at approximately $1,905,000.

A number of other hedge funds have also modified their holdings of the business. Allworth Financial LP grew its holdings in Vertex Pharmaceuticals by 77.9% during the 2nd quarter. Allworth Financial LP now owns 3,462 shares of the pharmaceutical company’s stock valued at $1,541,000 after buying an additional 1,516 shares during the last quarter. Americana Partners LLC lifted its position in shares of Vertex Pharmaceuticals by 0.8% in the second quarter. Americana Partners LLC now owns 12,334 shares of the pharmaceutical company’s stock valued at $5,491,000 after acquiring an additional 97 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Vertex Pharmaceuticals by 6.0% in the second quarter. Illinois Municipal Retirement Fund now owns 53,624 shares of the pharmaceutical company’s stock valued at $23,873,000 after acquiring an additional 3,034 shares in the last quarter. Joseph Group Capital Management boosted its stake in shares of Vertex Pharmaceuticals by 8.9% during the second quarter. Joseph Group Capital Management now owns 7,760 shares of the pharmaceutical company’s stock valued at $3,455,000 after acquiring an additional 634 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Vertex Pharmaceuticals by 4.8% during the 2nd quarter. ProShare Advisors LLC now owns 401,244 shares of the pharmaceutical company’s stock worth $178,634,000 after purchasing an additional 18,214 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on VRTX shares. JPMorgan Chase & Co. upped their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Cantor Fitzgerald reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. UBS Group decreased their target price on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Evercore ISI reduced their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. One investment 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 company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $489.10.

Vertex Pharmaceuticals Stock Up 1.9%

Shares of VRTX opened at $429.22 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68. The company’s fifty day moving average is $405.72 and its two-hundred day moving average is $428.16. The firm has a market cap of $108.90 billion, a PE ratio of 30.68 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 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the company posted $4.38 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.